Hindustan Media Q3 net up 27 pc at Rs 36.58 crore

Hindustan Media Ventures (HMVL) today reported 27.05 per cent increase in standalone net profit at Rs 36.58 crore for the third quarter ended December 31, 2014.
The company had reported a net profit of Rs 28.79 crore in the corresponding period a year ago.
HMVL's net sales for the quarter ended December 31, 2014, increased by 10.45 per cent to Rs 205.26 crore, as against Rs 185.83 crore in the same period of the previous year, it said in a filing to the BSE.
Commenting on the result, HMVL Chairperson Shobhana Bhartia said: "After establishing ourselves as a strong player in Uttar Pradesh and Uttarakhand while retaining our dominance in Bihar and Jharkhand, we are now focusing on operational efficiencies to ensure revenue growth is also accompanied by profit growth."

In the quarter under review, the company's advertising revenue increased by 11 per cent to Rs 152.2 crore due to increase in advertising yields and volumes. Its circulation revenue also went up by 11 per cent to Rs 51 crore due to higher circulation and realisation per copy.
The company publishes Hindustan newspaper, Nandan and Kadambini magazines.
HMVL shares settled at Rs 243.75 on the BSE, down 1.73 per cent from previous close.