Media company HT Media said that it has reduced losses in its online job portal Shine to Rs 8 crore from Rs 20 crore in the same period last year. In a call with analysts, the company said Shine was the only loss-making digital business in the company. This quarter, Shine managed to trim the fat by cutting its marketing spends. Answering a query, Sandeep Jain, head of strategy of HT Media said that the company is done with additional marketing spends on Shine. "Yeah, very clearly we have passed that phase and I think today the focus is really to be able to see how we can improve the operations in terms of the top line and start containing losses effectively," he said. Last quarter, HT Media said it would bring down its losses in digital by least 50% in 2017. Its CFO Vinay Mittal said that they intend to bring segment loss of Rs 64 crores down to half in 2017 (rather, FY17). Overall HT Media expects to bring losses from the digital segment down to Rs 25-27 crore. Other notes from the call 1. Cost cutting at the company: HT Media said that it would be undertaking cost cutting measures for the year "across businesses and across locations" but declined to give specifics. "We have just embarked on this a couple of weeks ago and the only commitment is to look at every cost line for possible savings. As of now, it is difficult to say where this cost optimization…
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