HT Media Q4 profit at Rs 19 crore

NEW DELHI: HT Media on Friday reported a consolidated net profit of Rs 19.09 crore for the quarter ended March 31, 2021.

The company had posted a net loss of Rs 188.72 crore for the same quarter of the previous fiscal year.

Revenue from operations was down 24.9 per cent to Rs 349 crore during the period under review as against Rs 465 crore in March 2020 quarter, HT Media said in a regulatory filing.

HT Media said the group upon due consideration of the current economic environment, has performed an impairment assessment of property, plant and equipment and intangible assets at cash generating unit level.

"The group has recognised an impairment loss of Rs 3.17 crore towards intangible assets as an exceptional item," the company said.

HT Media had reported exceptional expense of Rs 249.86 crore in the same period a year ago. Shares of HT Media were trading 1.64 per cent lower at Rs 27 apiece on the BSE.