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HT Media Net Profit Doubles, Demerges Hindi Biz, Metro Now Shut

Media company HT Media Ltd, which owns the newspapers Hindustan Times, Hindustan and Mint, as well as online jobs classifieds business Shine.com and radio station Fever 104 FM, has reported a Net Profit of Rs. 184.2 million in the quarter ended December 2009, more than double that recorded in December 2008 though total income was lower 3% year on year at Rs. 3269.8 million. The net income margin rose to 10% during the quarter. Comparatively, in the September quarter, the company had seen a 92% increase in net profits and revenues had risen 4%. The company reduced raw material spend resulted in the control of expenditure over the year. Its overall consolidated EBITDA margins have increased from 8% at Rs. 268 million to 21% at Rs. 764 million. Employee costs increased by 3% to Rs. 512.2 million in the December 2009 quarter. The company has a net debt of Rs. 684 million as of 31 December 2009. Details: Release | Financials Circulation & Ad Revenues Up Circulation revenues grew by 30% to Rs. 508 million with increase in the cover prices from Q1 FY2010, as well as improved realisations and increase in number of copies circulated. Advertising revenues also rose to Rs. 2855 million  from Rs. 2780 million. Hindi Business Demerged, Consolidation Opportunities HT Media has sold its Hindi daily Hindustan as well as two Hindi magazines Nandan (a children's magazine) and Kadambini (a socio-cultural mag) to its subsidiary Hindustan Media Ventures  on a slump sale with effect from December…

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