HT Media today reported a 13.07 per cent decline in consolidated net profit at Rs 34.84 crore for the fourth quarter ended March 31, 2014, due to higher tax expense.
The company had posted a net profit of Rs 40.08 crore in the corresponding period a year ago.
Net sales during the quarter under review went up by 8.61 per cent to Rs 533.91 crore in the quarter as against Rs 491.54 crore a year ago, the company said in a BSE filing.
Tax expense in January-March, 2014 period stood at Rs 36.29 crore as compared to Rs 16.66 crore in the corresponding period last year.
HT Media's total expenses in the quarter ended March 31, 2014 were at Rs 490.06 crore, an increase of 8.42 per cent as against Rs 451.99 crore in the same quarter a year ago.
Shares of HT Media were trading at Rs 89.50 apiece in the afternoon trade, down 2.61 per cent from its previous close on the BSE Sensex.