wordpress blog stats
Connect with us

Hi, what are you looking for?

HT Media’s net profit drops by 147% YoY, reports loss of Rs 37 Cr in Q2FY19

HT Media reported a net loss of Rs 37.3 crore for the quarter ended September 30, 2018 (Q2 FY19), from a profit of Rs 12 crore in the last quarter. The company's net profit reduced by a whopping 408% within a quarter. Net profit reduced by 147% YoY from Rs 78 crore in Q2FY18. In Q2 FY19, total expenses increased by 18% YoY to Rs 592 crore, as well as up 6% over the last quarter. However, total revenue of the company reduced by 5% YoY, and by 0.5% QoQ. Further, the company net loss was doubled essentially due to a provisional expense of Rs 23 crore made following the Delhi HC judgment in a case between The Hindustan Times Ltd and ex-workers "who were part of the Business transferred to the company under a business purchase agreement dated October 1, 2004." Had it not been for this expense, the company's net loss would have been substantially lower at Rs 13.4 crore. Ad revenue: The ad revenues dipped 8% at Rs 385 crore in Q2 FY19, as compared to Rs 353 crore in the same quarter last fiscal year. Ad revenue was driven by real estate, government and e-commerce in the English division, and by health & fitness, real estate and government in the Hindi division. Operating revenues for the quarter declined slightly by 2% YoY to Rs 206 crore from Rs 211 crore, and declined 9% QoQ from Rs 227 crore. Employee benefit expenses: The company's employee benefit expenses increased by 33% QoQ…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ