7 months ago
HT Media Q3 Loss Widens to ₹23.7 Crore
HT Media, which owns newspapers like Hindustan Times and Mint, reported a bigger loss of ₹23.70 crore for the last three months of the year.
This is because they had to spend a lot of money to follow new rules about how to treat their workers.
Even though they lost money overall, they made more money from selling ads and newspapers, and they spent less money than last year.
The company's boss said they are doing well and making good choices to keep their business strong.
HT Media reported a net loss of ₹23.70 crore for Q3, up from ₹3.24 crore the previous year.
The loss was primarily due to ₹40.35 crore in exceptional items, mainly from new labour code provisions.
Profit before exceptional items and tax more than doubled to ₹13.33 crore.
Revenue from operations increased to ₹496.61 crore, while total expenses decreased to ₹518.94 crore.
The print segment saw revenue growth, while the radio segment's revenue declined, and the digital segment's revenue increased.
- Who
- HT Media Ltd
- What
- Reported a widened net loss of ₹23.70 crore for Q3
- Where
- India
- When
- December quarter
- Why
- Due to provisions related to the implementation of new labour codes
Key facts
- Company
- HT Media Ltd
- Q3 Loss
- ₹23.70 crore
- Previous Year Q3 Loss
- ₹3.24 crore
- Exceptional Item (Net Loss)
- ₹40.35 crore
- Impact of New Labour Codes
- ₹39.91 crore
- Profit Before Exceptional Items and Tax
- ₹13.33 crore
- Previous Year Profit Before Exceptional Items and Tax
- ₹6.39 crore
- Revenue from Operations
- ₹496.61 crore
- Previous Year Revenue from Operations
- ₹489.8 crore
- Total Expenses
- ₹518.94 crore
- Previous Year Total Expenses
- ₹524.05 crore
- Print Segment Revenue
- ₹394.84 crore
- Previous Year Print Segment Revenue
- ₹386.80 crore
- Radio Segment Revenue
- ₹33.70 crore
- Previous Year Radio Segment Revenue
- ₹51.13 crore
- Digital Segment Revenue
- ₹66.67 crore
- Previous Year Digital Segment Revenue
- ₹51.45 crore
Quotes
ITC Ltd
A diversified conglomerate based in Kolkata, India.
“The changes in GST and Excise Duty rates announced recently have led to an unprecedented increase in tax incidence on cigarettes. Such a steep increase will provide further impetus to illicit trade and cause immense hardship and loss to millions of farmers, MSMEs, retailers, local value chains nurtured by the industry and the exchequer.”
thehindubusinessline.com
