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HT Media reports Rs 10.71 crore loss from internet business for 3Q 2010-11

HT Media, whose wholly-owned subsidiary Firefly e-Ventures runs a job portal Shine.com, a social networking site DesiMartini.com and an education portal HTCampus.com, has reported a loss (before interest and tax) of Rs 10.71 crore from its internet business for the third quarter ended December 31, 2010, as compared to a loss (before interest and tax) of Rs 9.85 crore posted for the corresponding quarter of the previous fiscal year.

HT Media, whose wholly-owned subsidiary Firefly e-Ventures runs a job portal Shine.com, a social networking site DesiMartini.com and an education portal HTCampus.com, has reported a loss (before interest and tax) of Rs 10.71 crore from its internet business for the third quarter ended December 31, 2010, as compared to a loss (before interest and tax) of Rs 9.85 crore posted for the corresponding quarter of the previous fiscal year.

According to HT Media, revenues from the internet segment increased from Rs 1.06 crore reported for the December 2009 ended quarter to Rs 2.05 crore recorded for the third quarter of the current fiscal year. This doesn’t include revenues from HT Media’s news websites HindustanTimes.com and LiveMint.com. During the December 2009 ended quarter, HT Media invested Rs 15 crore in Firefly e-Ventures as inter corporate deposit.

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