However, its revenue from operations rose 10.66 per cent to Rs 409.25 crore during the quarter under review against Rs 369.82 crore in the corresponding period of the previous fiscal.

HT Media Chairperson and Editorial Director Shobhana Bhartia said the first quarter of FY 2022-23 began on a positive note with a strong performance in the previous fiscal year, with overall business performance and the larger economic and business environment seeing considerable improvement, especially in the latter half of the fiscal.

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In another transaction, Union Bank of India sold 61,373 shares of Royal Cushions and Vinyl Products at Rs. 9.4 apiece through a bulk deal on the BSE.

Revenue from operations was down 24.9 per cent to Rs 349 crore during the period under review as against Rs 465 crore in March 2020 quarter, HT Media said in a regulatory filing.

The company had posted a net profit of Rs 20.54 crore during October-December period of the previous fiscal, HT Media said in a regulatory filing.

HT Media's total expenses were at Rs 504.19 crore in Q4 FY2019-20, down 20.45 per cent from Rs 633.84 crore in the corresponding quarter a year earlier.

The company had posted a net loss of Rs 21.08 crore in the same quarter of the previous fiscal.

The study, commissioned by the Association of Radio Operators for India (AROI), also said radio industry has witnessed a listenership of 51 million people, which is nearly as much as television's reach of 56 million and social media's reach of 57 million.