Reliance Capital Asset Management hikes stake in HT Media

Reliance Capital Asset Management has increased its stake in HT Media by 1.06 percent, by acquiring 25 lakh shares in the open market. Reliance Capital Asset Management, which had 4.03 percent stake earlier, hiked its shareholding in the company to 5.10 percent by acquiring shares on October 1 2013, HT Media said in a filing to the BSE.

During the first quarter ended June 30, 2013, HT Media reported 21 percent increase in consolidated net profit at Rs 51.58 crore as against Rs 42.6 crore in the same period a year ago, driven by higher revenues from advertising.

Net sales during the quarter went up by 10 percent to Rs 532.2 crore. Advertising revenues went up by 10 percent to Rs 409.5 crore as against Rs 372.5 crore in the corresponding quarter a year ago.

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