“I am encouraged by healthy operating performance despite a challenging macroeconomic environment. We have partially mitigated the impact of higher input costs through advance buying of newsprint and sourcing from different geographies. Our recent launches of ‘Hindustan’ in Chandigarh and Dehradun have built strong momentum and are contributing exceptionally well. The launch of local English editions in Dehradun, Jhansi and Kanpur will also boost the HT & HH business. Our revenue growth has been healthy despite continuous investment towards Mint, Radio and Internet services.

We continue to be in the investment mode in Mint and once the paper gains operational maturity, should add considerably to both, topline and bottom-line growth. Our well established brand equity, growing national footprint, growing regional presence and diversified business portfolio will enable us to increase revenues and implement many new initiatives that hold promise for the future and drive growth.”

In Q2 FY2009, ‘Hindustan Times’ continued to hold leadership position by significantly increasing share of circulation vis-à-vis its closest competitor. HT Media recently launched ‘Hindustan Times’ in Dehradun, Kanpur and Jhansi. The Company has been making significant investments in building brand salience as also boosting its capacity across various geographies, which would enable it to further strengthen the momentum, gained on readership and revenues.

Q2 FY2009 saw strong revenue growth in Dehradun and Chandigarh due to its unique marketing strategy – ‘jodi packages’ which was very well accepted by the trade, in turn boosting sales

The Company will inaugurate its printing facilities at Meerut and Allahabad in the near future. This will enable HT Media achieve operational efficiencies and implement efficient cost reduction. It is expected to enable the Company to considerably expand its reach in North India. With this the Company would have printing facilities in 21 locations including a state-of- the-art printing facility at Greater Noida.

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