HT Media ad revenue improved

HT Media’s total revenue has increased 53 percent in Q1FY23 to reach Rs 432 cr as against Rs 281 cr last year. The margin came in at a negative 4 percent and PAT as a consequence came to a negative of Rs 42 cr with a margin of negative 10 percent. Net cash balance, however, remains strong at Rs 936 cr despite a dip when compared to a year ago. Piyush Gupta, Group CFO of HT Media, has attributed the dip to investments caught behind working capital, which will be unwound as the newsprint price stabled.