HT Media Ltd, the writer of Mint and Hindustan Instances newspapers, swung to a ₹29.91 crore revenue within the quarter ended 30 September from a lack of ₹40.15 crore within the year-ago interval. Income from operations rose by 42% to ₹369 crore from ₹260 crore within the year-ago interval, HT Media stated in a regulatory submitting on Friday.
HT Media models embrace Hindustan Media Ventures Ltd, HT Music and Leisure Co. Ltd, HT Cellular Options Ltd, Subsequent Mediaworks Ltd, Subsequent Radio Ltd, HT Noida (Firm) Ltd and Mosaic Media Ventures Pvt. Ltd.
“A Composite Scheme of Amalgamation of the Corporations Act, 2013, which gives for the merger of Subsequent Mediaworks Ltd, Digicontent Ltd and HT Cellular Options Ltd with HT Media Ltd has been accepted by the board of administrators of respective corporations at a gathering held on 11 February, topic to requisite approval(s). Each NSE and BSE have issued no-objection letters in relation to the scheme,” HT Media stated within the submitting.
In 2019, the radio arm of HT Media Ltd acquired a 51% stake in Subsequent Mediaworks. Subsequent Mediaworks, by means of its subsidiary Subsequent Radio, operates stations throughout main metros beneath the Radio One model, together with some within the English language. HT Media owns common radio channels Fever FM and Radio Nasha, with a dominant presence in metros.
Supply: Live Mint