Hinduja Ventures has reported a consolidated total income for the year ended March 31, 2013 at Rs 701.96 crore as compared to Rs 563.05 crore for the same period in the previous year, a growth of 24.67 per cent YoY.
However, consolidated net profit declined by 20.15 per cent from Rs 100.46 crore last year to Rs 80.22 crore in FY13. EBIDTA for the year end stood at Rs 227.14 crore as against Rs 219.69 crore last year, an increase of 3.39 per cent.
For Q4 FY13, the consolidated total income grew 32.64 per cent at Rs 190.88 crore as compared to Rs 143.91 crore for the same period in the previous year.
Consolidated net profit declined by 76.57 per cent, from Rs 20.80 crore in Q4 FY12 to Rs 4.87 crore in Q4 FY13. EBIDTA for the fourth quarter stood at Rs 39.95 crore as against Rs 47.10 crore, a decline of 15.19 per cent.
Commenting on the performance, Ashok Mansukhani, Whole-Time Director, Hinduja Ventures, stated that the advent of compulsory digitisation has brought in transparency in subscription numbers almost five fold and will help ultimately to improve the top line and bottom line of the company.
Hinduja Ventures is the holding company of IndusInd Media and Communication (IMCL), one of India’s largest integrated media companies. With an estimated 8.5 million subscribers across 36 major cities, the company offers over 370 channels in the digital mode with 20 HD channels. Mansukhani added that IMCL expects to convert all its 36 cities to Digital Addressable System (DAS) by September 2014 as per Government mandate.