Hindustan Media Ventures has recorded a 7 per cent rise in its total revenue for the second quarter ended September 30, 2013 at Rs 1,782 million from Rs 1,667 million in the corresponding quarter of last year.
Advertising revenues for Q2 FY14 are up 11 per cent to Rs 1,270 million from Rs 1,147 million primarily due to increase in advertising yields and volumes.
The company has also seen a 15 per cent increase in circulation revenues to Rs 446 million from Rs 387 million primarily due to higher realisation per copy.
EBITDA has increased by 18 per cent to Rs 425 million from Rs 361 million primarily due to growth in advertising and circulation revenues. Growth is partially offset by 7 per cent increase in consumption of raw materials to Rs 706 million from Rs 661 million due to increase in newsprint price and 4 per cent increase in employee costs to Rs 216 million from Rs 208 million.
Profit after tax has gone up by 15 per cent to Rs 249 million from Rs 217 million.
Commenting on the performance for Q2 FY2014, Shobhana Bhartia, Chairperson, Hindustan Media Ventures said, “We are glad to report yet another quarter of a healthy growth in revenue and profit. While pricing initiatives have resulted in a stronger top-line, our sustained focus on cost control measures has ensured further improvement in profitability. This is been led by robust growth in Uttar Pradesh and Uttarakhand, even as we continue to maintain our market dominance in Bihar and Jharkhand. With a strong brand, a growing readership, and a healthy balance sheet, we are confident that we will continue to deliver value to our shareholders.”
Hindustan Media Ventures prints and publishes Hindi daily Hindustan, children’s magazine Nandan and general interest magazine Kadambini. The company also operates the news website Livehindustan.com.