HT Media delivered good set of numbers both on the ad revenue and circulation revenue front. Overall top-line grew 27%YoY to Rs4.6bn where in the advertisement growth was at 27% YoY (highest in the last ten quarters) mainly on account of English print ad, which grew by 25%YoY. Circulation revenue grew 13%QoQ to Rs471mn in Q3FY11 (English circulation revenue grew remarkably by 27% QoQ to Rs165mn).

Robust revenue growth driven by English print business

Hindustan Media Ventures' (HMV) initial public offer (IPO) received good response on the bourses. The Rs. 270 issue managed to attract good review by the investors on the last day of its subscription/

The IPO was subscribed 5.23 times showed the data collected by NSE. The value of the highest bid was Rs. 162-166 per share while the company had provided a price band of Rs. 162-175 for every share.

It was subscribed one per cent during the last days and was not taken well at that time.

HT Media, the media major said that it has seen six-fold increase in its consolidated net profit for the quarter ending March 31, 2010. The profit of the company stood at Rs. 47.99 crore, said the company. It stood at Rs. 7.59 core for the same period last year.

The increase has been due to rise in advertisement revenue and also due to rising circulation figures.

Meanwhile, the company is also planning to re-launch its flagship brand, Hindustan Times.

Zapak.Com, a privately-held online gaming portal, has entered into an agreement with DesiMartini.Com, a social networking site.

Under the arrangement, Zapak.Com will power the exclusive gaming section on DesiMartini.Com and this game section will feature more than 70 games across genres like Action, Puzzle, Strategy, Racing and Sports.

DesiMartini is a social networking site where visitors, from all over the world, can connect to each other, make new friends, share photographs, videos, messages and engage in discussions.

HT Media Ltd, the publisher of English daily Hindustan Times and business newspaper Mint, reported a net profit of Rs 32.40 crore for the first quarter ended June 30, 2009, as compared to Rs 37.72 crore in the corresponding period a year ago.

Total income rose to Rs 335.06 crore during the April-June quarter, from Rs 327.24 crore in the year-ago period.

In a separate announcement, the company has revealed its plan to spend Rs 40 crore in capital expenditure in the year to March 2010.