19th May, 2023

BSE Limited

National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers,

Exchange Plaza, C-1, Block G,

Dalal Street

Bandra-Kurla Complex, Bandra (E)

Mumbai - 400 001

Mumbai - 400 051

Scrip Code: 532662

Trading Symbol: HTMEDIA

Sub: Newspaper Advertisement- Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Re: Audited Financial Results (AFRs) for the quarter and financial year ended on 31st March, 2023

Dear Sirs,

Please find enclosed herewith copy of relevant page of "Mint" (English) and "Hindustan" (Hindi) newspapers dated 19th May, 2023, publishing extract of AFRs of the Company for the quarter and financial year ended on 31st March, 2023, upon approval of the Board of Directors at its meeting held on 18th May, 2023.

You are hereby requested to take the above information on record.

Thanking you,

Yours faithfully,

For HT Media Limited

(Manhar Kapoor)

Group General Counsel & Company Secretary

Encl: As above

For and on behalf of the Board of Directors
Shobhana Bhartia Chairperson & Editorial Director

LIVEMINT.COM

Corporate

New Delhi

07

Friday, 19 May 2023

Hinduja patriarch's death how Bernoullis made their mark

brings $14 bn feud to light

dreamedupwhatmathematiciansknowastheStPetersburgparadox

A M AT T E R

(though it was Daniel who actually gave it that name). This arises

from a game of flipping coins that, in theory, offers unlimited

returns, but potential players don't see that, and are unwilling to

O F N U M B E R S

pay more than a token amount to enter the game.

D I L I P D ' S O U Z A

Daniel'sfatherJohannanduncleJacobwereearlypioneersand

usersofcalculusasweknowittoday,thatusestheideaofinfinitesi-

Question over who will assume SP Hinduja's role may crack open divisions

malquantities.Unfortunately,thetwogrewprofessionallyjealous

Respond to this column at

of each other, a feeling that, after Jacob died, Johann transferred

feedback@livemint.com

tohissonDaniel.Inbothcases,therelationshipseventuallybroke

Bloomberg

down altogether.

nce upon a time, there lived a family in Switzerland-by

Jacob is known for deriving the well-known law of large num-

the name of Bernoulli. I mention the name because most

bersinprobabilitytheory:ifanexperimenthasanexpectedresult,

feedback@livemint.com

Oonce-students of science know of it from physics in high-

and if you perform it a large number of times, the average of the

or decades, Srichand Hinduja

school or early-college years. Students like me, for example.

resultsyougetwilltendtoapproachtheexpectedresult.Forexam-

servedasthepatriarchofasprawl-

I refer here to Bernoulli's Principle. It goes something like this:

ple,ifyoutossacoin10timesandcounthowmanytailsyouget,you

ingbusinessempirebehindoneof

when you have a fluid that's flowing-water through a pipe, air

expect five.But thefirsttime, you mayget seven. Then maybesix,

theworld'sbiggestfamilyfortunes

aroundthewingofanaircraft-there'sarelationshipbetweenthe

four,five,eight-butinthelongrun,theaverageofallyour10-toss

withoriginsdatingbackmorethan

speed at which it flows and the pressure in the fluid. As the speed

experiments will get closer and closer to five.

a century.

increases, the pressure decreases.

WecanalsothankJacobfordiscovering"e"(2.71828...)-anum-

F

His deathat age 87 raises questionsover

This is a physics nugget that does not stay abstract long. For

ber just as ubiquitous and important in mathematics as TT is. For

who'll assume his role as de-facto head of

example, it explains why topspin imparted to a tennis ball-think

justoneexample,itisfundamentaltotheideaofcompoundinter-

the dynasty, whose legal battles in recent

Rafa Nadal-makes it descend faster than a ball that's hit without

est-which is actually how Jacob found it.

yearsovercontrolofinvestmentsspanning

spin.Italsohelpsexplainhowanaircraft'swinggeneratestheforce

In the early 18th Century, he also stumbled upon the so-called

banking,mediaandenergystillthreatento

neededtoliftaplaneintotheair.Wellactually,thereissomenuance

Seki-Bernoullinumbers,independentlyofbutalmostsimultane-

tear apart the once tight-knit group.

and argument about how exactly the Principle applies to that lift.

ously with the Japanese mathematician Seki Takakazu. They ran

Gopichand Hinduja, 83, is the British-

Still, because it's been connected to phenomena like these, the

into them by chance, while looking for a formula for the sums of

Indianclan'soldestmemberfollowingSri-

name is known more widely than just in physics circles.

powers of integers. This is a prize that mathematicians since

chand's death Wednesday in London. He

In any case, the Principle is named after Daniel Bernoulli, who

ancienttimes-Archimedes,Aryabhata,FermatandPascal,among

and his two younger brothers - Prakash,

discovered this relationship in the 1730s. Daniel studied business

many others-have chased.

77, and Ashok, 72 - fought over the past

and mathematics and medicine, finishing a PhD in anatomy and

The Seki-Bernoulli numbers turn up in the branch of mathe-

three years with the patriarch and his

While the family called a truce on the bitter power struggle in November, it emerged

botany and an MD in medicine by the age of 21 years. His first love

In the 17th-18th

matics called "analysis". I will not say

daughter,Vinoo,overalettersignedbythe

last month that they're still privately haggling on related issues.

AFP

seems to have been mathematics, though, and particularly its

more about that, but here are some of

four siblings that said assets held by one of

applications to fluid mechanics. When he happened upon the

Centuries, this

these numbers, and some remarks

them belonged to all.

ing St James's Park, and have a property

ing-importing firmandrapidly diversified

Principle,hefoundwaystouseitinreallife,devisinganinstrument

Swiss family

about them, taken from a 1911 paper by

Whilethefamilycalledatruceonthebit-

investmentfirmthathasboughtmorethan

its investments, with early success distrib-

to measure blood pressure, for example, that worked because of

gave us at least 8

the great Srinivasa Ramanujan (http://

ter power struggle in November, it

250 acres of land in major Indian cities.

uting Bollywood films outside India.

hisPrinciple.Whilewenolongermeasurebloodpressurethatway,

ramanujan.sirinudi.org/Volumes/pub-

emerged last month they're still privately

About three decades ago, Srichand -

Parmanand,whodiedin1971,instilledin

you can find essentially the same instrument on the outside of

great scientists &

lished/ram01.pdf):

haggling on related issues.

knownasSP-foundedaSwisslenderthat

his sons a mantra they pledged to follow:

planes. It uses pressure to measure the speed of the plane.

mathematicians

#2: 1/6

The clan, which spans at least four gen-

became the focus of a UK legal battle

"Everythingbelongstoeveryoneandnoth-

BecauseBernoulli'sPrinciplebecamesowell-known,students

#4 and #8: 1/30

erations, has a collective fortune of about

betweenthefamily.Thedisputespilledout

ing belongs to anyone."

likemetendedtoassumewithoutmuchthoughtthattherewasjust

#12: 691/2730

$14billion,puttingitamongAsia's20rich-

into the public in 2020 over claims his

For decades, the brothers adhered to

oneBernoulli.Oratanyrate,thatDanielwastheonlyBernoullito

#30: 8615841276005/14322

est dynasties, according to the

three brothers were trying to take

that policy, describing it as their guiding

make a mark in science. Both are serious misconceptions. In fact,

and more.

Bloomberg Billionaires Index.

2 lakh

control in a power grab. SP's

principle. But that unified front crumbled

therecan'tbetoomanyfamiliesinmathematicsorscience,orreally

(They are infinite in number, and every odd-numbered Seki-

"This is the litmus test for

32-year-oldgrandson,Karam,

in the final years of SP's life, during which

inanyfield,quiteliketheBernoullis.Inthe17thand18thCenturies,

Bernoulli number is 0.)

the Hinduja family's recent

is chief executive officer of

he suffered from a form of dementia.

this remarkable Swiss family produced at least eight-maybe as

In that paper, Ramanujan noted some intriguing things about

ceasefire," David Hawkins,

Geneva-basedHindujaBank,

The Hindujas "were trying to guide

manyasadozen-scientistsandmathematicianswhofoundwide-

these numbers. Two examples:

co-founder of family-busi-

people are

while his daughter, Shanu,

themselves under a too-broad principle,"

spread recognition for their work. Daniel was only one of them.

* All the denominators have 2 and 3 as prime factors, but only

ness consulting firm Per-

employed with the

who turns 59 this month, is

said Leon Fernando Del Canto, a London-

To be sure, he was one of the brightest stars in the family. But

once each. Thus, all denominators are divisible by 6, but not by 4

cheron Advisory, said of Sri-

group worldwide

chair.

based barrister who works with wealthy

there's Daniel's younger brother, Johann II. He was a professor of

(2 x 2) or 9 (3 x 3).

chand's death.

Shanu and Vinoo, 56, who

individuals. "In this case, the courts will

mathematicsattheUniversityofBasel.Hisparticularinterestwas

* They are fractions, and if you divide one by its serial number,

Atstakeisthedirectionforone

led the recent legal fight for SP's

determine the dispute's future without

the way light moves, but there were other subjects he dabbled in,

thenumeratoroftheresultisprime.Thisworksfor#12above,but

oftheworld'sbiggestconglomerates

branch of the family, said in a state-

clearagreementsorafamilyconstitution."

too,withmuchsuccess:hewonprizesforhisworkfromtheAcad-

-andIcanhardlybelievethis-notfor#30.Thisisaknownmistake

that employs more than 200,000 people

ment Wednesday that Srichand had died

Read more: The $14 Billion Feud That

emy of Sciences in Paris. Johann II had four sons. The eldest was

inRamanujan'swork,thoughIamflummoxedthatthegreatman

worldwide.

peacefully that morning.

Splintered the Hinduja Family

JohannIII.ThisBernoulliwasconsideredachildprodigy:hecom-

made such a simple mistake.

Hinduja Group's assets include major

"We will continue to uphold SP's legacy

Aspartoflastyear'struce,SP'sdaughters

pleted his PhD at just 13, and was named Berlin's "Astronomer

Thatconundrumaside,Ramanujanhasplentymoretosayabout

holdingsinlistedIndianbusinesses-from

and values," they wrote.

and his brothers agreed to effectively tear

Royal" when he was 19. His youngest brother was Jakob II, who

thesenumbers.JustasIhaveplentymoretosayabouttheBernoul-

automakerAshokLeylandLtd.toMumbai-

The four Hinduja siblings' father, Par-

upa2014letterunderpinningtheiruniting

loved geometry and learned it from his uncle Daniel. He became

lis. Sadly, space only allows this much. Still, I'm honoured to have

basedlenderIndusIndBankLtd.TheHin-

manand,foundedtheirnamesakebusiness

principles, raising the prospect of a

a professor of mathematics in St Petersburg. Sadly, he drowned

at least that in common with Ramanujan. Thank you, Bernoulli

dujas are also refurbishing a hotel near 10

in 1914 in the Sindh region of British India.

breakup for their conglomerate.

soon after, short of his 30th birthday.

family.

Downing Street in central London, where

SP and his brothers all joined what started

Still, that truce is looking increasingly

The earlier Bernoullis, though, were even more eminent. Dan-

Onceacomputerscientist,DilipD'SouzanowlivesinMumbaiand

they own a set of palatial homes overlook-

out as a commodities-trading and carpet-

fragile.

iel's cousin Nicolaus I had a deep interest in probability. He

writes for his dinners. His Twitter handle is @DeathEndsFun.

ISSUE OUT

TOMORROW

BETTING

ON SKILL

The cricket-focused fantasy sports market in India is booming. Despite legal and taxation challenges, everyone wants in on the action

THINK: Kanu Behl on

SMART LIVING:

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BUSINESS LOUNGE:

his Cannes-bound

The war of the

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Meet the king of

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nuts, Rohit Zantye

HT Media Limited

CIN:- L22121DL2002PLC117874

Registered Office: Hindustan Times House, 2nd Floor, 18-20, Kasturba Gandhi Marg, New Delhi - 110001, India

Tel:- +91 11 66561608 Fax:- +91 11 66561445

Email:- corporatedept@hindustantimes.com Website:- www.htmedia.in

(INR in Lakhs except earnings per share data and ratios)

Extract of Audited Consolidated Financial Results for the quarter and year ended March 31, 2023

Particulars

Quarter Ended

Year Ended

March 31, 2023*

December 31,

March 31, 2022*

March 31,

March 31,

Audited

2022

Audited

2023

2022

Un-audited

Audited

Audited

Revenue from operations

44,140

44,036

42,090

171,110

150,038

Net profit/(loss) for the period (before tax and/or exceptional items)

(3,446)

(3,019)

988

(19,579)

1,414

Net profit/(loss) for the period before tax (after exceptional items)

(3,446)

(3,019)

988

(19,579)

1,414

Net profit/(loss) for the period after tax, non-controlling interest and share

(1,496)

(2,189)

1,672

(22,729)

1,779

in profit/(loss) of joint venture

Total comprehensive loss for the period [comprising profit/ (loss) for the

(4,467)

(2,015)

(990)

(28,467)

(727)

period after tax, non-controlling interest and share in profit/(loss) of joint

venture and other comprehensive income (after tax)]

Paid-up equity share capital # (Face Value - INR 2/- per share)

4,655

4,655

4,655

4,655

4,655

Other equity excluding revaluation reserves as per the audited balance

175,326

203,740

sheet

Securities Premium Account

49,935

49,935

49,935

49,935

49,935

Net Worth (as per the Companies Act 2013) (excluding non controlling

168,795

173,285

197,352

168,795

197,352

interest)

Outstanding Debt @

70,726

106,857

80,312

70,726

80,312

Debt Equity Ratio (in times)

0.33

0.49

0.32

0.33

0.32

Capital Redemption Reserve

2,045

2,045

2,045

2,045

2,045

Debt Service Coverage Ratio (in times)

(0.03)

(0.01)

0.04

(0.17)

0.10

Interest Service Coverage Ratio (in times)

(0.98)

(0.27)

1.67

(1.54)

1.26

Earnings/(Loss) per share (of INR 2/- each)

Not annualised

Not annualised

Not annualised

Basic

(0.65)

(0.95)

0.72

(9.83)

0.77

Diluted

(0.65)

(0.95)

0.72

(9.83)

0.76

# Includes Equity Shares held by HT Media Employee Welfare Trust

30

30

30

30

30

*Refer Note 6 below

@Outstanding Debt comprises of current borrowings (including current maturities of long term borrowings) and non-current borrowings.

Notes:

  • The above is an extract of the detailed format of quarterly financial results filed with the Stock Exchanges under Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The full format of the quarterly financial results are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and on the Company's website "www.htmedia.in".
  • For the other line items referred in regulation 52 (4) of the LODR Regulations, pertinent disclosures have been made to the Stock Exchanges (BSE and NSE) and can be accessed on the Stock Exchange websites (www.bseindia.com and www.nseindia.com).
  • The above consolidated financial results for the quarter and year ended March 31, 2023 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 18, 2023. The Statutory Auditors have conducted an audit of the above results pursuant to Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and have issued an unmodified audit opinion.
  • The consolidated financial results have been prepared in accordance with the Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, as amended from time to time.
  • Additional information on standalone financial results is as follows:-

(INR In lakhs)

Particulars

Quarter Ended

Year Ended

March 31, 2023*

December 31, 2022

March 31, 2022*

March 31, 2023

March 31, 2022

Audited

Un-audited

Audited

Audited

Audited

Revenue from Operations

23,537

24,173

20,254

92,117

75,129

Loss Before Tax

(10,941)

(1,759)

(2,360)

(20,875)

(2,846)

Loss After Tax

(9,823)

(1,491)

(1,582)

(27,515)

(2,012)

Total Comprehensive Loss

(9,798)

(1,543)

(1,565)

(27,630)

(1,921)

6. The figures of the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the financial year and the year to date figures upto December 31, 2022 and December 31, 2021, being the end of the third quarter of the financial year, which were subjected to limited

review.

New Delhi

May 18, 2023

Have fun

Catch the latest column of

with facts

A

on Sundays A quiz on the week's development.

hindustantimes htTweets www.hindustantimes.com

For and on behalf of the Board of Directors
Shobhana Bhartia Chairperson & Editorial Director

www.livehindustan.com

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Registered Office: Hindustan Times House, 2nd Floor, 18-20, Kasturba Gandhi Marg, New Delhi - 110001, India

Tel:- +91 11 66561608 Fax:- +91 11 66561445

Email:- corporatedept@hindustantimes.com Website:- www.htmedia.in

(INR in Lakhs except earnings per share data and ratios)

Extract of Audited Consolidated Financial Results for the quarter and year ended March 31, 2023

Particulars

Quarter Ended

Year Ended

March 31, 2023*

December 31,

March 31, 2022*

March 31,

March 31,

Audited

2022

Audited

2023

2022

Un-audited

Audited

Audited

Revenue from operations

44,140

44,036

42,090

171,110

150,038

Net profit/(loss) for the period (before tax and/or exceptional items)

(3,446)

(3,019)

988

(19,579)

1,414

Net profit/(loss) for the period before tax (after exceptional items)

(3,446)

(3,019)

988

(19,579)

1,414

Net profit/(loss) for the period after tax, non-controlling interest and share

(1,496)

(2,189)

1,672

(22,729)

1,779

in profit/(loss) of joint venture

Total comprehensive loss for the period [comprising profit/ (loss) for the

(4,467)

(2,015)

(990)

(28,467)

(727)

period after tax, non-controlling interest and share in profit/(loss) of joint

venture and other comprehensive income (after tax)]

Paid-up equity share capital # (Face Value - INR 2/- per share)

4,655

4,655

4,655

4,655

4,655

Other equity excluding revaluation reserves as per the audited balance

175,326

203,740

sheet

Securities Premium Account

49,935

49,935

49,935

49,935

49,935

Net Worth (as per the Companies Act 2013) (excluding non controlling

168,795

173,285

197,352

168,795

197,352

interest)

Outstanding Debt @

70,726

106,857

80,312

70,726

80,312

Debt Equity Ratio (in times)

0.33

0.49

0.32

0.33

0.32

Capital Redemption Reserve

2,045

2,045

2,045

2,045

2,045

Debt Service Coverage Ratio (in times)

(0.03)

(0.01)

0.04

(0.17)

0.10

Interest Service Coverage Ratio (in times)

(0.98)

(0.27)

1.67

(1.54)

1.26

Earnings/(Loss) per share (of INR 2/- each)

Not annualised

Not annualised

Not annualised

Basic

(0.65)

(0.95)

0.72

(9.83)

0.77

Diluted

(0.65)

(0.95)

0.72

(9.83)

0.76

# Includes Equity Shares held by HT Media Employee Welfare Trust

30

30

30

30

30

*Refer Note 6 below

@Outstanding Debt comprises of current borrowings (including current maturities of long term borrowings) and non-current borrowings.

Notes:

  • The above is an extract of the detailed format of quarterly financial results filed with the Stock Exchanges under Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The full format of the quarterly financial results are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and on the Company's website "www.htmedia.in".
  • For the other line items referred in regulation 52 (4) of the LODR Regulations, pertinent disclosures have been made to the Stock Exchanges (BSE and NSE) and can be accessed on the Stock Exchange websites (www.bseindia.com and www.nseindia.com).

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  • The above consolidated financial results for the quarter and year ended March 31, 2023 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 18, 2023. The Statutory Auditors have conducted an audit of the above results pursuant to Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and have issued an unmodified audit opinion.
  • The consolidated financial results have been prepared in accordance with the Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, as amended from time to time.
  • Additional information on standalone financial results is as follows:-

(INR In lakhs)

Particulars

Quarter Ended

Year Ended

March 31, 2023*

December 31, 2022

March 31, 2022*

March 31, 2023

March 31, 2022

Audited

Un-audited

Audited

Audited

Audited

Revenue from Operations

23,537

24,173

20,254

92,117

75,129

Loss Before Tax

(10,941)

(1,759)

(2,360)

(20,875)

(2,846)

Loss After Tax

(9,823)

(1,491)

(1,582)

(27,515)

(2,012)

Total Comprehensive Loss

(9,798)

(1,543)

(1,565)

(27,630)

(1,921)

6. The figures of the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the financial year and the year to date figures upto December 31, 2022 and December 31, 2021, being the end of the third quarter of the financial year, which were subjected to limited

review.

New Delhi

May 18, 2023

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HT Media Limited published this content on 19 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2023 07:19:08 UTC.