Industry players say the reduction in newsprint cost to $600 will provide a favourable position and enhance their financial outlook, but the benefits will be seen only by next quarter
During the earnings call, HT Media Group CFO Gupta also expressed his optimism about profitability in the coming quarters and newsprint prices coming down gradually
With prices poised to rise up to $730/tonne by Q3, newspaper houses have been strategising to minimise losses at a time when print still recovering from the pandemic
Industry heads say the cut on customs duty on import of newsprint and light-weight coated paper will finally bring down the production costs