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As per our report of even date
For S. R. Batliboi & Co.
Firm Registration Number: 301003E
Chartered Accountants
For and on behalf of the Board of Directors of HT Media Limited
per Manoj Gupta Shobhana Bhartia Rajiv Verma
Partner Chairperson & Chief Executive Officer
Membership No. 83906 Editorial Director & Whole Time Director
Dinesh Mittal Piyush Gupta
Place : New Delhi Group General Counsel Group Chief Financial
Date : May 18, 2012 & Company Secretary Officer
HT Media Limited
48. The Company follows Accounting Standard (AS-22) “Accounting for taxes on Income” as notified by the Companies
(Accounting Standards) Rules, 2006 (as amended). Movement of deferred tax is recognized as below.
(` in lacs)
As at 31 March, 2012 As at 31 March, 2011
Deferred Tax Liability/(Assets) as at the end of Year (3,472.94) (855.06)
Add: Deferred tax asset of HT Learning Centers Limited consequent to
acquisition of HT Education Ltd [Refer note 44 (a)]
168.82
Add: Deferred Tax Assets created on Miscellaneous Expenditure adjusted
448.44
against share premium account in Hindustan Media Ventures Ltd.
Less: Opening Deferred Tax Liability/(Assets) (855.06) 1,780.67
Deferred Tax credit recognized in consolidated statement of profit and loss 2,449.06 2,187.29
49. Current tax is net of tax credit amounting to `65.55 lacs (Previous year includes tax charge `211.88) with respect to previous
years.
50. Deposit with financial institution includes `1,080.58 lacs (Previous year `649.95 lacs) deposits pledged with bank and held
as margin money to settle related obligations as and when they arise during the normal course of business. This amount is
considered as restricted cash and hence is not considered ‘Cash and Cash equivalents’.
51. Previous year figures
Till the year ended March 31, 2011, the Company was using pre-revised Schedule VI to the Companies Act, 1956, for
preparation and presentation of its financial statements. During the year ended March 31, 2012, the Revised Schedule VI
notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year
figures to conform to this year’s classification.
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