afaqs! news bureau

HT Media's Q4 results show a decrease in net loss to Rs 31 lakh, with revenue totaling Rs 464 crore

Revenue earned in the current quarter was Rs 464.41 crore, compared to Rs 441.4 crore in the same period last year.

HT Media reported a decreased consolidated net loss of Rs 31 lakh in the fourth quarter ending on March 31, 2024. HT Media announced in a regulatory filing that the company recorded a consolidated net loss of Rs 20.73 crore in the corresponding quarter of the previous financial year.

The company reported that its revenue from printing and publishing newspapers and periodicals in the quarter was Rs 375.97 crore, slightly higher than the Rs 373.85 crore earned in the same period last year.

Revenue from radio broadcasting and entertainment sector increased to Rs 47.57 crore from Rs 36.29 crore in the same period last fiscal year. Revenue in the digital segment increased from Rs 31.63 crore in Q4FY23 to Rs 43.21 crore in Q4FY24.

The company stated that expenses in Q4 were Rs 513.41 crore, down from Rs 528.87 crore in the previous year's fourth quarter. The company reported a reduced consolidated net loss of Rs 91.38 crore for the fiscal year ending March 31, 2024, compared to a consolidated net loss of Rs 251.75 crore recorded in FY23.

It was reported that the revenue from operations in FY24 decreased to Rs 1,694.72 crore from Rs 1,711.1 crore in FY23. HT Media's board has given the green light to investing Rs 10 crore in Mosaic Media Ventures, a company fully owned by HT Media, by purchasing shares in the company.

The investment aims to expand the business of collecting and sharing news, analysis, and research for business, management, investors, and the public. The completion of the transaction is anticipated to occur within 12 months after receiving board approval.

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