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Home STOCKS HT Media Q4 benefits: Web loss widens to Rs 61.59 crore

HT Media Q4 benefits: Web loss widens to Rs 61.59 crore

New Delhi: HT Media on Friday described its consolidated web loss widening to Rs 61.59 crore in the January-March quarter of FY’20.
The company experienced posted a net loss of Rs 21.08 crore in the exact same quarter of the previous fiscal, HT Media Ltd reported in a regulatory filing.
Its revenue from operations was down 13.64 per cent to Rs 466.88 crore during the period of time under evaluate as in opposition to Rs 540.66 crore in the March 2019 quarter.
“India’s GDP expansion has ongoing to soften as a result of all 4 quarters of FY2019-20. The outbreak of the COVID-19 pandemic more intensified the worries faced by the financial state through the quarter, especially in the metros. Marketing, which is the mainstay of our newspaper and radio enterprises, has found a decrease in the quarter,” HT Media Chairperson and Editorial Director Shobhana Bhartia mentioned.
Inspite of pressure on revenue, HT Media recorded an maximize in gains and enhancement in working margins on the back of favourable newsprint price ranges and a concentration on price tag control, she additional.
HT Media’s total expenses were at Rs 504.19 crore in Q4 FY2019-20, down 20.45 for each cent from Rs 633.84 crore in the corresponding quarter a yr before.
Its revenue from printing and publishing of newspapers and periodicals section through the stated quarter was Rs 402.66 crore, down 14.74 for each cent, as against Rs 472.31 crore.
Though revenue from radio broadcast and leisure was at Rs 41.97 crore, down 10.83 for each cent, as from Rs 47.07 crore.
However, revenue from electronic segment was up 14.18 for every cent at Rs 19.80 crore from Rs 17.34 crore.
For the fiscal year 2019-20, HT Media’s internet loss was Rs 217.42 crore. It had a net profit of Rs 15.89 crore in the former economic 12 months.
Its revenue from operations for the fiscal 2019-20 was Rs 2,104.74 crore, down 4.28 per cent.
Shares of HT Media Ltd fell 3.35 per cent to close at Rs 13.86 apiece on the BSE.

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