Media company HT Media Ltd, which owns the newspapers Hindustan Times and Mint, as well as online jobs classifieds business Shine.com, has reported a Net Profit of Rs. 324 million for the quarter ending June 30th 2009 (Q1-10), a 14.10 percent year on year decline from 377.2 for the same quarter last year, but 38 percent up from the quarter ending March 31st 2009 (Q4-09). The results offer some hope, when looked at from a quarter on quarter perspective, with EBITDA margins back up at 22 percent, from 16 percent in Q4-09, though sales declined on a QoQ basis by 2 percent. The company has also said that the value of its investment in Metropolitan Media Ltd has gone down, and it has incorporated a reduction of Rs. 45 million as an exceptional item. Circulation revenues increased by 24 percent year-on-year to Rs. 444 million from Rs. 358 million, helped by an increase in the cover price of publications, and "improved realization". Details: Release | Financials Cost Cutting Shobhana Bhartia,Chairperson and Editorial Director, HT Media has said that cost optimization initiatives that the company took have started yielding results: this is evident in a 4 percent decrease each in employee and raw material costs, and a QoQ reduction in advertising and sales promotion expenses from Rs. 289.6 million to Rs. 175.8 million. Overall, the company has achieved a 9 percent QoQ reduction in expenses. Radio Fever 104 FM, though still in the investment phase, seems to be slowly gaining momentum.…
