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HindustanTimes Mon,21 Apr 2014

HMVL net up 65%

HT Correspondent, Hindustan Times  New Delhi, May 13, 2013
First Published: 22:15 IST(13/5/2013) | Last Updated: 22:17 IST(13/5/2013)

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.

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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.

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