1. The above Audited results reviewed by the Audit Committee, have been approved by the Board of Directors at the meeting held on May 18, 2009.

2. During the quarter, the Equity Shareholders, Secured and Unsecured Creditors of the Company, at their respective Court convened meetings held on January 28, 2009 approved with over-whelming majority, a Scheme of Arrangement and Restructuring under Sections 391-394 read with Sections 100-104 of the Companies Act, 1956, between the Company and HT Music and Entertainment Company Ltd (HTME), a Subsidiary Company ("the Scheme"). The Scheme was sanctioned by the Hon´ble Delhi High Court in terms of the Order passed on March 19, 2009. Consequent upon receipt of ´no-objection´ of the Ministry of Information & Broadcasting, Government of India to the transfer of operations of FM Radio license to the Company by HTME, the Scheme came into effect from May 15, 2009 (Effective Date).

Upon effectiveness of the Scheme, w.e.f. Appointed Date-2 i.e. January 01, 2009 (opening business hours), the results of the Radio Undertaking of HTME have been incorporated in the accounts of the Company. In terms of the Scheme, 7,69,230 Equity Shares of Rs. 2/- each of the Company shall be allotted to the shareholders of HTME.

3. The Company is engaged in the business of Printing and Publication of Newspapers and Periodicals. Further, the Company has also acquired the Radio Business of HTME one of its subsidiary w.e.f. January 01, 2009 which is engaged, inter alia, in the business of FM radio broadcast from its Radio Stations in the cities of Delhi, Mumbai, Kolkata and Bangalore, under the brand name ´Fever 104´. Accordingly, the company has organised its operation into two major businesses viz. "Printing and Publishing of Newspapers and Periodicals" and "Radio Broadcast".

4. Disclosure of Consolidated Financial Results: Total Income: Rs. 1,37,965 lacs (previous year Rs. 1,24,712 lacs), Net Profit after Tax: Rs. 90 lacs (previous year Rs. 10,133 lacs) and EPS: Re. 0.04 (previous year Rs. 4.33) on face value of Rs. 2/-.

Consolidated results comprise of results of the Company and its three wholly owned Subsidiaries, three partly owned Subsidiaries and a 50 % owned Joint Venture.

5. Provision for Tax comprises Current Tax Expense and Deferred Tax Charge.

6. During the quarter, the Company has contributed Rs. 1200 lacs, Rs. 351.75 lacs and Rs. 45 lacs to the Equity Share Capital of subsidiary companies namely, Firefly e-Ventures Ltd (Firefly), HT Burda Media Ltd and HT Digital Media Holdings Ltd (HT Digital) [formerly, Hindustan Media Ltd] respectively, and Rs. 1100 lacs to the Equity Share Capital of Joint Venture Company namely, Metropolitan Media Company Private Ltd.

In order to achieve the objective of integrating all internet, mobile and new media-based businesses under one holding company, during the quarter, the Company´s entire investment of Rs. 55 Crore in the equity share capital of Firefly was transferred to HT Digital and in consideration thereof, HT Digital issued and allotted to the Company, its Equity Shares at par, of an aggregate value of Rs. 55 Crore.

HT Mobile Solutions Limited (HT Mobile) has been incorporated on February 19, 2009 as a subsidiary of HT Digital and accordingly, HT Mobile became a subsidiary of the Company.

7. During the Quarter, no Options were granted under the HTML Employee Stock Option Scheme. Further, 55,050 Options were forfeited during the said period.

8. Exceptional Items comprise of provision of Rs. 603 lacs for diminution in Long Term Investment under internship for Growth1 model.

9. Dividend: The Board of Directors have recommended a Dividend on Equity Shares of Rs. 2/- each @ Re.0.30 per Equity Share (15%) for the year, amounting to Rs. 705.06 lacs (excluding Dividend Distribution Tax of Rs. 119.83 lacs), for approval of the shareholders.

10. The Company has changed its policy with respect to the exchange difference on foreign currency transactions relating to acquisition of fixed assets. These differences have been adjusted to the carrying amount of fixed assets pursuant to retrospective amendments (with effect from December 07, 2006) to Accounting Standard (AS-11 ) on "Effects of Changes in Foreign Exchange Rates" vide GSR Notification 225(E) dated 31st March 2009. The above accounting treatment followed by the Company is consistent with the revised AS-11.

11. The CEO and CFO certificate in respect of the above results in terms of Clause 41 of the Listing Agreement, has been placed before the Board of Directors.

12. Previous period´s figures have been re-grouped, wherever considered necessary.

Shobhana Bhartia
Chairperson & Editorial Director