HT Media Q3 profit jumps 61% QoQ to Rs 53.6 cr

HT Media 's consolidated net profit grew by 61 percent quarter-on-quarter to Rs 53.6 crore in the third quarter of financial year 2012-13, sending shares 7.4 percent higher intraday. Consolidated total income from operations increased 7 percent to Rs 547 crore from Rs 511 crore during the same period.
Tax expenses were more than doubled to Rs 22.17 crore in October-December quarter from Rs 10.66 crore in July-September quarter.

Revenues from its newspapers & periodicals business went up 7% QoQ to Rs 513 crore while radio business grew by 7 percent QoQ to Rs 21.35 crore in the third quarter. Meanwhile, its revenues from digital business moved up 3.6 percent to Rs 13.79 crore from Rs 13.31 crore.

At 14:13 hours IST, shares shot up 4.5 percent to Rs 101.70 amid hefty volumes on Bombay Stock Exchange. Trading volumes jumped nearly 14 times to 34,182 equity shares as against five-day average of 2,504 shares.