Shobhana Bhartia, 

HT Media's revenues, margins, and profits have been improving since the third quarter of FY16, while losses from its digital division halved in the first quarter of FY17 from a year earlier. But the big concern for Bhartia is subdued growth in ad revenues from print, especially from English dailies, as well as mounting losses from business daily Mint. Seven percent growth in print ad revenues for Hindi publications provided some relief. The balance is sheet looking brighter with Rs 890 crore of net cash, but Bhartia has to find ways to deploy the cash efficiently. Analysts reckon the stock trades at a discount to its true value.