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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…

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