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.
