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News Corp posts profit rise


Global media giant News Corporation's net profit more than tripled in the first quarter of the 2012/13 financial year.

News Corp said net income, or net profit, for the three months to September 30, was $US2.23 billion ($A2.16 billion), up from $US738 million ($A715.50 million) in the prior corresponding period.

The profit was boosted by the sale of News Corp's stake in software company NDS in July, which produced a $US1.4 billion gain.

News Corp chairman and chief executive Rupert Murdoch said the company managed to grow revenue and adjusted segment operating profit - or earnings before interest and tax (EBIT) - despite a stronger US dollar.

"Our operational discipline and focus on innovation continued to drive the company's momentum in our fiscal first quarter, led by double-digit growth in our channels business and the global success of our film and television content," Mr Murdoch said in a statement.