Hindustan Media Ventures net profit falls 77.8 pc to Rs 4.4 cr in Sept quarter

Hindustan Media Ventures Ltd (HMVL) on Monday reported a 77.8 per cent decline in its consolidated net profit to Rs 4.41 crore for the second quarter ended September 30.

Hindustan Media Ventures Ltd (HMVL) on Monday reported a 77.8 per cent decline in its consolidated net profit to Rs 4.41 crore for the second quarter ended September 30. The company had posted a net profit of Rs 19.86 crore in the July-September quarter a year ago, it said in a BSE filing.

Its revenue from operations was down 31.92 per cent to Rs 131.21 crore during the period under review, against Rs 192.74 crore in the corresponding period of the previous financial year, the company said. Its total expenses rose 17.33 per cent to Rs 151.94 crore, against Rs 183.81 crore in the second quarter of 2019-20.

The company's shares on Monday closed at Rs 50.30 on the BSE, up 1.62 per cent from its previous close.