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HT Media Q2 Digital Revenue Up 56% Y-o-Y, 16.2% Q-o-Q

Media and publishing group HT Media recorded Rs 10 crore in revenues from the digital segment for the quarter ended September 30, 2011. This marks 56 per cent growth over the second quarter last fiscal and 16.2 per cent growth sequentially over the first quarter ended June 30, 2011.

The company's job portal Shine.com that competes with the likes of naukri.com among others, added 0.5 million resumes during the quarter to hit the 7.5 million resume mark.

Meanwhile, the company as a whole reported 13 per cent rise in consolidated net profit to Rs 43.8 crore for the quarter over the year ago period even as it shrunk around 15 per cent sequentially over the first quarter this year.

Total consolidated revenues rose 11 per cent to Rs 493.1 crore over Q2 FY'11 driven by 13 per cent print ad-revenues of Rs 370.5 crore while print circulation revenues increased 21 per cent to Rs 50.7 crore. Revenue from radio and entertainment business rose 12 per cent to Rs 15.7 crore over the second quarter last year. Sequentially total revenues dipped marginally compared to the quarter ended June 30, 2011.

HT Media scrip declined 1.95 per cent to close at Rs 138 a share on BSE in a weak Mumbai market on Friday.

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