HMVL Swings to Profit with Surge in Digital Revenue

Hindustan Media Ventures Ltd (HMVL) reported a consolidated profit of Rs 18 crore in the December quarter, a turnaround from a Rs 0.82 crore loss a year ago. The company's revenue increased by 8% to Rs 197.47 crore, spurred by a four-fold jump in digital revenue.

Hindustan Media Ventures Ltd (HMVL) reported a consolidated profit of Rs 18 crore in the December quarter. This marks a significant turnaround from the Rs 0.82 crore loss recorded in the same period the previous year, as per the company's regulatory filing.

The publishing giant, known for its Hindi daily, Hindustan, saw its operational revenue climb 8% to reach Rs 197.47 crore. This growth was largely influenced by a remarkable four-fold increase in digital revenue to Rs 16.72 crore, thus enhancing the company's financial standing.

Total expenses witnessed a decline of 3.2%, settling at Rs 201.68 crore. Alongside these developments, HMVL's shares closed at Rs 94.01 each, upticking 12.69% from their prior closing value.