May 19, 2017 / 7:48 AM / 3 months ago

BRIEF-India's HT Media March-qtr consol profit falls over 40 pct

May 19 (Reuters) - HT Media Ltd:

* March quarter consol net profit 255.5 million rupees

* Consensus forecast for March quarter consol net profit was 414.1 million rupees

* Says recommended dividend of INR 0.40/share

* March quarter consol total income 6.34 billion rupees

* Consol net profit in March quarter last year was 431.4 million rupees as per IND-AS; consol total income was 6.85 billion rupees

* Says approved acquisition of 49 percent equity stake in IESPL held by JV partner Apollo Global Singapore Holdings Pte Ltd

* Says Apollo Global has also expressed desire to exit JV; JV agreement will be terminated

* Says co will acquire 58 million shares of IESPL for $650,000

* Says consequent to acquisition, IESPL will become unit of co Source text: (bit.ly/2q2RxgB) Further company coverage:

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