Top Story


Home >> Marketing >> Article

HVL Q1 Net Profit after tax up at Rs 24.21 cr

Font Size   16
HVL Q1 Net Profit after tax up at Rs 24.21 cr

Hinduja Ventures Limited (HVL) announced their un-audited standalone financial results for Q1. The Standalone Net Profit after Tax for the quarter ended June 30, 2016 stood at Rs. 24.21 Crores.

HVL on standalone basis reported a total income of Rs. 60.95 crores for the quarter ended June 30, 2016 as against Rs. 26.63 crores for the quarter ended June 30, 2015. The increase in total income was due to sale of setup boxes/ broking income/ income from trading of securities. The net profit after tax for Q1 of Rs. 24.21 crores as against Rs.23.90 crores during the previous quarter. The Net Profit After Tax for the period ended grew by 1.30 per cent.

The Board noted the scheme of arrangement between Grant Investrade Limited (GIL), the wholly owned subsidiary of the Company and IndusInd Media and Communications Limited (IMCL), a subsidiary of the Company, wherein GIL will de-merge its Headend-in-the-Sky (HITS) business undertaking to IMCL. The Scheme is subject to consent(s), approval(s) permission(s) of statutory authorities(s) if any, including in particular, the approval from the Ministry of Information and Broadcasting, Government of India for transfer and vesting of HITS License held by GIL in favor of IMCL.

India is yet to witness a genuine and significant revolution in the digital delivery in true sense, especially in tier 3, tier 4 cities and rural hinterland .The digitalisation with many upcoming value added services of over 160 million TV homes is still far from over , and it is envisaged that the combined strength of Fibre based digital cable delivery and the satellite based digital signals for cable industry ,will enhance and create a new paradigm in the digital content delivery platform in terms of reach , best value for money, state of the art technology, quality of services and significant value added digital services.

The company also envisages that this will further enhance shareholders value by consolidating the Digital Media distribution businesses and will help to rationalize the group structure by optimizing the resources and integrating operational synergies both in revenue and costs. The combined entity will also be able to venture and grow in the newer areas and many upcoming linked digital technology values adds that would be relevant for this business and same set of customers. The Broadband business has been also restructured for a direct focus and is planned for a manifold technology based growth.

The synergy will be able to consolidate HVL’s media investments and would surely enhance and maximize the shareholders value. The HITS business undertaking of GIL’s merger in IMCL will be a unique first in the country in Digital cable and has a long term positive financial implication by increasing competitive strength, technology synergies, customer service efficiency and high productivity with a genuine all India reach. Similar models in developed countries have witnessed a prime leadership position in midterm to long term.

This arrangement will also strengthen HVL’s investment in media business which will in turn unlock the value of HVL’s shareholders. The said scheme was approved by the Board of Directors of GIL and IMCL at their meetings held on July 21, 2016 and noted in the HVL Board on July 22, 2016.

The Board also approved the conversion of 10,00,000 1 per cent Participatory Redeemable Non-Cumulative Preference Shares (“1% PRNCPS”) of Rs. 10/- each held in Grant Investrade Limited (GIL) in to Equity Shares.

GIL will issue its 634,518 Equity Shares of Rs. 10/- each against the conversion of 10,00,000 1 per cent PRNCPS.


Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Duroflex and Happy mcgarrybowen launch #7HourMarathon campaign with Milind Soman to promote healthy sleeping practices

Punjab has witnessed highest growth, of more than 50% DTH penetration, followed by HP and J&K

IRS 2017 has been reinforced with design, methodology, quality, and questionnaire enhancements to ensure the highest integrity of the data.