Hindustan Media Ventures Limited (HMVL), the publisher of Hindustan, one of India’s leading Hindi language dailies, has posted a 65% year-on-year growth in its net profit for the fourth-quarter ended March to Rs 22.7 crore compared to Rs 13.7 crore in the same quarter of the previous year.
Total revenue increased 2% to Rs 163 crore.
For the full-year ended net profits increased by 29% to Rs 84.5 crore while revenues went up 8% to Rs 664.7 crore.
“Hindustan’s expansion initiatives, combined with a focus on cost optimisation, continue to yield encouraging results. This is reflected in the healthy financial and operational performance for the year despite challenges in the macro-environment,” said Shobhana Bhartia, chairperson, HMVL.
During the quarter, advertising revenues declined 3% to Rs 110.5 crore due to a fall in advertising yields, while circulation revenues increased 15% to Rs 40 crore from Rs 34.6 crore due to higher circulation and realisation per copy.