Aim to demerge Hindi biz in 3-4 mths – HT Media

Vernacular biz did better than English biz; signs of improvement seen in English biz; volumes are back, but pricing still lackluster; aim to demerge Hindi biz in 3-4 mths: HT Media

Rajiv Verma, CEO of HT Media  (BOM:532662) said that vernacular business did better than English business. The English business is showing signs of improvement and is coming back with velocity. Volumes are back, but pricing is still lackluster. Advertising revenues are not back to 2007 levels yet.

He further said that there are indications that advertising revenue price will be seen hardening going ahead. Rates are still 5-7% lower than 2007. Advertising rates could reach 2007 levels in next 2 quarters. He sees some increase in circulation revenues. The company aims to demerge Hindi business in the next 3-4 months, he added.

HT Media Q3FY10 net profit (YoY) stood at Rs 18.4 crore Vs Rs 7.8 crore and net sales stood at Rs 323 crore Vs Rs 337.1 crore.

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