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Hindustan Media Ventures Q3 net dips to Rs 108 mn

Hindustan Media Ventures Q3 net dips to Rs 108 mn

Author | exchange4media News Service | Friday, Jan 20,2012 7:23 AM

Hindustan Media Ventures Q3 net dips to Rs 108 mn

Hindustan Media Ventures Ltd (HMVL) has seen a per cent decline in its net profit for the third quarter ended December 31, 2011 at Rs 108 million from Rs 117 million.

On the other hand, growth in volumes and pricing across segments have buoyed HMVL’s Q3 FY12 advertising revenues. The print media company has recorded a 9 per cent increase in ad revenues at Rs 1,024 million.

Meanwhile, total revenue was up 9 per cent at Rs 1,420 million from Rs 1,307 million. HMVL has seen an 8 per cent increase in circulation revenues to Rs 338 million, from Rs 315 million due to higher circulation and realisation.

EBITDA, too, increased by 4 per cent to Rs 209 million from Rs 200 million, primarily due to factors like growth in ad revenues and increased income on surplus funds, among others.

Commenting on the company’s Q3 performance, Shobhana Bhartia, Chairperson, Hindustan Media Ventures Ltd, said, “We are pleased to report a good financial and operational performance this quarter despite some significant macro-economic challenges. We continue to consolidate and expand our readership across the geographies of our presence, as reflected in the Q3 2011 IRS results.”

She further said, “Having established our presence in all our key target states, our focus is now on penetrating deeper in these states through increasing circulation and readership. Our recent launch in Aligarh is another step in that direction.”

Hindustan Media Ventures Ltd is engaged in the printing and publishing of Hindi daily Hindustan and Hindi magazines Nandan and Kadambari.

HMVL went public and was listed on the Bombay Stock Exchange and National Stock Exchange on July 21, 2010.

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