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Business News/ Companies / Company-results/  HMVL Q4 net profit rises 20.5% to Rs46.9 crore
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HMVL Q4 net profit rises 20.5% to Rs46.9 crore

HMVL's revenue increases 13.1% to `246.4 crore from `217.8 crore

For the full year, HMVL posted a 28.2% increase in net profit to `180.6 crore. Revenue increased 11.9% to `979.3 crore. Photo: MintPremium
For the full year, HMVL posted a 28.2% increase in net profit to `180.6 crore. Revenue increased 11.9% to `979.3 crore.
Photo: Mint

New Delhi: Hindustan Media Ventures Ltd (HMVL), the publisher of the Hindi daily Hindustan, said on Wednesday that net profit rose 20.5% in the three months ended 31 March on higher advertising and circulation revenue.

Net profit rose to 46.9 crore in the quarter from 38.9 crore in the year-ago period. Revenue increased 13.1% to 246.4 crore from 217.8 crore, said HMVL, a unit of HT Media Ltd, which publishes Mint and Hindustan Times.

Advertising revenue rose 14.9% to 168.4 crore in the three months from 146.6 crore a year ago, the company said in a statement. Circulation revenue rose 5.1% to 53.4 crore from 50.8 crore a year earlier. The gains were partially offset by a 29% increase in employee costs.

For the full year, HMVL posted a 28.2% increase in net profit to 180.6 crore. Revenue increased 11.9% to 979.3 crore.

Advertising revenue in the year increased 14.7% to 684 crore and circulation revenue rose 6.8% to 214.4 crore.

“We are pleased to close the year on a stronger note than the industry and plan to carry the momentum into the current year," HMVL chairperson Shobhana Bhartia said in a statement. “For the year, revenue growth was driven by new initiatives, a good festive season and state elections. Stable raw material prices and superior execution have contributed to increasing the profitability of the company."

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Published: 25 May 2016, 03:32 PM IST
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