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Hinduja Venture’s FY09 consolidated net profit dips 15% on low investments

Hinduja Venture’s FY09 consolidated net profit dips 15% on low investments
PTI
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First Published: Tue, May 12 2009. 08 03 PM IST
Updated: Tue, May 12 2009. 08 03 PM IST
Mumbai: Hinduja Venture, a Hinduja Group company, on Tuesday reported 15% fall in its consolidated net profit during the 2008-09 fiscal at Rs46.79 crore.
The company had a net profit of Rs55.13 crore during fiscal year 2008, Hinduja Venture said in a filing to the Bombay Stock Exchange.
“The drop in consolidated net profit was mainly on account of depreciation on capital investments made in technology upgrades and digitalization and investment in new geographies by its major subsidiary IndusInd Media & Communications,” the company said
However, the company has registered a 31% rise in its consolidated total income during fiscal year 2009 to Rs339.82 crore. It had a consolidated total income of Rs259.99 crore during fiscal year 2008.
The company has declared a dividend of Rs 10 per share.
Shares of Hinduja Venture surged 8.53% and closed at Rs143.10 on the BSE.
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First Published: Tue, May 12 2009. 08 03 PM IST