Q4 Profit Dips for Hindustan Media Ventures, Drops 11% to Rs 10.74 Crore

Hindustan Media Ventures Ltd's Q4 profit after tax declined by 11% to Rs 10.74 crore due to higher expenses. Revenue from operations remained largely stable at Rs 188.05 crore. Digital revenue witnessed significant growth. For the full fiscal year, the company reported a profit of Rs 9.95 crore, reversing the loss in the previous year, despite a slight decline in revenue.

Hindustan Media Ventures Ltd on Tuesday reported an 11 per cent decline in consolidated profit after tax at Rs 10.74 crore for the fourth quarter ended March 31, 2024.

The company had posted a profit after tax (PAT) of Rs 12.08 crore in the same quarter previous fiscal, Hindustan Media Ventures Ltd (HMVL) said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 188.05 crore as against Rs 188.13 crore in the year-ago period, it added.

Printing and publishing of newspapers and periodicals segment clocked a revenue of Rs 181.47 crore in Q4 as against Rs 186.63 crore in the corresponding period a year ago.

Digital registered Rs 5.84 crore revenue in Q4 as against Rs 1 crore a year ago, the filing said.

Total expenses in the quarter were higher at Rs 219.51 crore as compared to Rs 207.64 crore earlier, the company said.

In the fiscal ended March 31, 2024, profit after tax was at Rs 9.95 crore. It had posted a consolidated loss after tax of Rs 38.09 crore in FY23.

Revenue from operations in FY24 was at Rs 704.09 crore as against Rs 713.4 crore in FY23, it added.

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