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Q409: HT Media Reports Rs 234.3M Profit; Internet Loss; Consolidates Digital Ops Under HT Digital

(By Nikhil Pahwa and Preethi J) Media company HT Media has posted a Net Profit of Rs 234.3 million for the quarter ending March 31st 2009, despite marginal growth in stand alone net sales of Rs 3338.2 million from the previous quarter. Net sales grew by 6.53% from the corresponding quarter last year. Earnings per share rose sharply to Re 1 from Rs 0.33 in the previous quarter. That revenues for HT Media have remained flat quarter on quarter is a positive sign, particularly helped by a 12 percent reduction in raw material costs. According to the company, total revenue in Q4 grew primarily on account of Rs. 74 million from the merger of the radio business effective January 1 2009, and more importantly - a year on year 5% increase in advertising revenue for the publishing segment from Rs. 2,655 million in Q408 to Rs. 2,797 million in Q409. Net profit has dropped by 41% from the last fiscal to Rs. 852 million while net sales grew by 12% to Rs. 13,320 million for the group. HT Media owns Hindustan Times, Mint, three subsidiaries and Fever 104 FM, a radio channel it acquired in March. It's subsidiary Firefly E-Ventures runs the job portal Shine.com and social networking site Desimartini.com. HT Media has a tie-up with Velti Inc for a mobile marketing company. Details: Release| Financials Internet Business Reports Loss of Rs. 457.4 million HT Media has reported Internet revenues of Rs. 9.9 million for the year ended, and a significant…

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