The figure compares with a loss of £43.9m for the previous year.
At sister company News Group Newspapers, which publishes The Sun and the News of the World, profits fell from £61.8m to £55.1m.
According to accounts filed in Companies House, the losses at Times Newspapers came from a rise in the cost of newsprint, a one-off charge associated with shifting the printing from Wapping to Broxbourne and redundancy costs.
Revenue for the year was £444.9m, down 0.5%.
The figures cover the period before the economic downturn set in, although falling advertising revenues did have an impact.
News Group Newspapers revenue was up 0.5% to £626m.
Times Newspapers and News Group Newspapers are part of News International, itself a division of Rupert Murdoch's News Corporation.
Last month .
As well as its UK newspapers, News Corp owns the Wall Street Journal and the New York Post in the US and The Australian and The Herald-Sun in Australia.
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