Reliance Capital Asset Management Ltd had increased its shareholdings in HT Media Ltd by 1.06%. This was done through the acquisition of a volume of 25 lakh share in the open market.
The company who owned 4.03% stake earlier, increased its shareholdings in the company to 5.10% through the acquisition of shares last October 1, 2013. This was confirmed by HT Media through its filing with the Bombay Stock Exchange.
In the first quarter ending June 30, 2013, HT Media had reported a 21% increase in its consolidated net profit of INR51.58 crore compared to just INR42.6 crore in 2012. The increase was attributed to the higher revenues earned from increased advertising.
The net sales during the last quarter increased by 10% to INR532.2 crore. At this period, advertising revenues also rose by 10% to INR409.5 crore compared to INR372.5 crore in the same period last year.
As for trading, HT Media shares were pegged at INR85 per, an increase of 1.13% on the Bombay Stock Exchange in agternoon trading.
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