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Reliance Capital Asset Management Ltd has increased its stake in HT Media Ltd by 1.06%, by acquiring 25 lakh shares in the open market.
Reliance Capital Asset Management, which had 4.03% stake earlier, hiked its shareholding in the company to 5.10% 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% 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% to Rs 532.2 crore. Advertising revenues went up by 10% to Rs 409.5 crore as against Rs 372.5 crore in the corresponding quarter a year ago.
Shares of HT Media Ltd were trading at Rs 85 apiece, up 1.13% on the BSE in the afternoon trade.
