HT Media has appointed Shamit Bhartia as its Managing Director (designated as Joint Managing Director) via a special resolution of the board, for a period of 5 years with effect from May 15, 2015. Bhartia is the son of HT Media Chairperson Shobhana Bhartia and has been a whole-time Director with the company. According to a note on the company’s website, he has been associated with HT Media Ltd since its inception, holds a degree in Economics from Dartmouth College, USA and has worked in the Corporate Finance and M&A Group, Lazard Frere, New York, from July 2001 till August 2002. From an operational standpoint, the company is led by CEO Rajiv Verma, who has been the CEO since 2004.
HT Media reported Rs 615.3 crore in revenue for the quarter ended June 30th 2015, with a profit after tax of Rs 42.1 crore. It has businesses across Print, Radio and Digital, with print revenues dominating (Rs 443.02 crore in advertising and Rs 72.9 crore in circulation for the quarter). Its Radio business reported Rs.24.5 crore in Q1 FY16. Digital revenues for HT Media during the quarter were Rs 30.6 crore, with losses of Rs 21.18 crore.