HMVL topline up 23%

Hindustan Media Ventures Limited (HMVL), a leading print media company that publishes Hindi daily Hindustan, has clocked 23 per cent growth in its total revenues during the second quarter ending September 30, 2010.

Hindustan Media Ventures Limited (HMVL), a leading print media company that publishes Hindi daily Hindustan, has clocked 23 per cent growth in its total revenues during the second quarter ending September 30, 2010.

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The company’s revenues stood at R125.7 crore. Profits after tax (PAT) for the quarter stood at R10.7 crore, a company statement said.

The company clocked 30 per cent increase in advertising revenues to R91.4 crore from R70.6 crore driven by growth in volume and pricing across geographies. The company, which also publishes two Hindi magazines Nandan and Kadambini, raised R270 crore through an initial public offer (IPO) in July this year.

Hindustan has a strong regional presence with a readership of over 10 million readers.