MUMBAI: HT Media’s radio and entertainment business, operating under the Fever brand, has posted an operating profit of Rs 67 million for the fiscal fourth-quarter, gaining from a rise in income as it strengthened its position across markets.
Fever FM and entertainment had reported an operating loss of Rs 2 million in the year-ago period. Revenue jumped 81 per cent to Rs 258 million for the quarter ended 31 March 2011 compared to Rs 143 million in the same period last year.
For the full-fiscal, the segment reported a 64 per cent increase in revenue to Rs 704 million, up from Rs. 431 million in FY’10.Fever FM runs four FM radio stations – in Delhi, Mumbai, Bangalore and Kolkata.
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HT Media’s fourth-quarter consolidated net profit rose 11.8 per cent to Rs 529 million, backed by a muscular augmentation in advertising sales.The company’s consolidated revenue stood at Rs 4.70 billion, up 22 per cent from the year-ago period.
Fuelled by pricing and volume growth across all geographies, ad revenue in the print segment rose 20 per cent to Rs 3.63 billion, from Rs 3.02 billion a year ago.Also, there was a 9 per cent increase in circulation revenues in the print segment to Rs 469 million, from Rs 429 million. For the fiscal ended 31 March 2011, HT Media posted a revenue of Rs 17.86 billion, up 24 per cent from the earlier year.
HT Media chairperson and editorial director Shobhana Bhartia said, “A robust economy has also contributed to a healthy growth in advertisement revenues. Radio deserves a special mention for its programming innovations and financial performance.”
