Hinduja Ventures rechristened NXTDIGITAL Ltd; reports Q2 PAT of Rs 124 cr


PTI | New Delhi | Updated: 17-11-2019 14:39 IST | Created: 17-11-2019 14:33 IST
Hinduja Ventures rechristened NXTDIGITAL Ltd; reports Q2 PAT of Rs 124 cr
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  • India

Hinduja Ventures Limited, the listed holding company of integrated digital platform IndusInd Media & Communications Ltd, has been rechristened as 'NXT DIGITAL Limited' with all regulatory approvals, the company said. The re-branding comes close on the heels of the various actions being undertaken as part of the corporate reorganization which involved demerging the cable television and HITS business from IndusInd Media & Communications Ltd (IMCL) and merging it with NXT DIGITAL, subject to all statutory approvals, it added.

The board of directors at its meeting held on August 27, 2019, had approved the scheme of arrangement by which the media and communications undertaking of IndusInd Media & Communications Limited will demerge into the company with the appointed date as October 1, 2019, subject to regulatory and shareholders approval. Meanwhile, on a consolidated basis, NXT DIGITAL Limited reported a total income of Rs 387.32 crore for the quarter ended September 30, as against Rs 170.39 crore during the corresponding period of last year.

The company reported a consolidated net profit after tax of Rs 124.18 crore for the quarter as against a net loss after tax of Rs 175.20 crore for the year-ago period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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