HT Media Q4 net down 58% at Rs 22 cr on expenses

New Delhi: HT Media Ltd today reported 57.78 percent decline in consolidated net profit for the fourth quarter ended 31 March 2012 at Rs 22.62 crore, mainly on account of higher overall expenses.

The company had posted net profit of Rs 53.58 crore in the same period previous fiscal.[caption id=“attachment_314080” align=“alignleft” width=“380” caption=“Dented profit. Reuters”]  [/caption]

Total income from operations during the fourth quarter stood at Rs 494.1 crore as against Rs 467.27 crore in the corresponding period previous fiscal, HT Media Ltd said in a BSE filing.

The firm said its overall total expenses during the period under review jumped to Rs 470.84 crore as against Rs 403 crore in the same period a year ago.

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Cost of materials consumed during the period stood at Rs 185.65 crore as against Rs 163.74 crore in the previous fiscal.

The company said its board has recommended 20 percent dividend of 40 paise per equity share of face value Rs 2 for the fiscal 2011-12 at an outgo of Rs 9.4 crore.

For the fiscal 2011-12, the company’s net profit stood at Rs 171.53 crore as compared to Rs 185.82 crore in the previous fiscal.

Total income from operations during the fiscal stood at Rs 2,002.98 crore as against Rs 1,776.17 crore in the previous fiscal.

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Shares of HT Media Ltd today closed at Rs 115.95, up 2.98 percent from the previous close on the BSE.

PTI