Annual accounts for News Group Newspapers (NGN), which publishes The Sun and the News of the World, revealed that the firm endured a £238.7m financial hit from the hacking affair, but warned that this could be "significantly higher" in future.
Settling legal claims in phone hacking cases with stars such as Sienna Miller, Steve Coogan and Charlotte Church required NGN to set aside £23.7m, while £55m went on redundancy and restructuring as a result of the closure of the News of the World in July last year.
Closure of the Sunday tabloid also required NGN to take a £160m write off on the value of the paper, although a spokesman for the firm told reporters that this was a "paper" loss and not a "cash" item.
As the £23.7m legal costs provision relates to only claims where formal proceedings have been issued, NGN warned in its accounts: "The final cost [of claims] may or may not be significantly higher than the amounts recognised."
The provision for civil claims was also made against the accounts for the year to July 2011, but the majority of the claims are understood to have come towards the end of the year.
The company and its auditors Ernst & Young therefore pointed out that it is almost impossible to know what the final cost of settling hacking cases will be.
Some analysts have estimated that the cost of the hacking scandal to Murdoch could ultimately rise as high as $1bn (£631m), largely because NGN is still facing various legal and criminal investigations, including a police probe into alleged corrupt payments by journalists at the News of the World and The Sun.
The accounts show that pre-tax profits for NGN increased to £104m from £88.6m in the previous year, as turnover held firm at £653m.
Times Newspapers, owner of The Times and The Sunday Times, suffered a loss of £11.6m, but that was down from a loss of £45m in 2010, and included £9.3m of restructuring costs.
News International, the News Corp subsidiary that owns NGN, has always maintained that its UK newspapers are not for sale.
However, News Corp chief operating officer Chase Carey told investors last month that "there is certainly an awareness" that the company would be worth more without the UK newspaper division.
On Tuesday, James Murdoch quit his post as chairman of pay-TV giant Sky, after also recently resigning from News International following criticism of his handling of the hacking scandal.
His seat on the News Corp board also remains in doubt as US shareholder group Christian Brothers Investment Services has called for reform of the firm's corporate governance.