Hindustan Media Ventures Q4 net profit rises 20.5%

NEW DELHI: Hindustan Media Ventures Ltd (HMVL), the publisher of Hindustan, one of India’s leading Hindi language dailies, has posted a 20.5% growth in net profit for the fourth quarter ended March 31, 2016 at Rs 46.9 crore, compared to Rs 38.9 crore in the same quarter of the previous year. Total revenue during the quarter rose 13.1% to Rs 246.4 crore, from Rs 217.8 crore a year-ago. For the full-year ended March 31, 2016, net profit increased 28.2% to Rs 180.6 crore, against Rs 140.9 crore in the previous year. Total revenue during the year went up 11.9% to Rs 979.3 crore, from Rs 875 crore in the previous year. “We are pleased to close the year on a stronger note than the industry and plan to carry the momentum into the current year,” said Shobhana Bhartia, chairperson, HMVL. “Our focus on innovation to delight our readers, and our healthy balance sheet gives us the confidence that we will continue to deliver value to our shareholders.” Advertising revenue during the quarter ended March 31, 2016 rose 14.9% to Rs 168.4 crore, from Rs 146.6 crore a year-ago. For 201516, advertising revenue increased 14.7% to Rs 684 crore, from Rs 596.5 crore in the previous year. - As reported in Hindustan Times