HMVL net up 65%

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.

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.