Hindustan Media Ventures posts Q3 net profit at Rs 18 cr

New Delhi: Hindustan Media Ventures Ltd (HMVL) on Monday reported a consolidated profit after tax of Rs 18 crore in the December quarter.

The company had posted a loss after tax of Rs 0.82 crore in the October-December period a year ago, according to a regulatory filing by HMVL, the publisher of Hindi daily Hindustan.

Its revenue from operations rose 8 per cent to Rs 197.47 crore in the third quarter. It stood at Rs 182.95 crore in the corresponding period a year ago.

Total expenses of HMVL were Rs 201.68 crore, down 3.2 per cent in the December quarter.

Its revenue from printing & publishing of newspapers & periodicals was Rs 179.72 crore.

HMVL's revenue from Digital jumped four-fold to Rs 16.72 crore in the December quarter against Rs 4.18 crore in the corresponding quarter.

Total income of HMVL, which includes other income, was Rs 221.39 crore, up 7.2 per cent.

Shares of Hindustan Media Ventures Ltd settled at Rs 94.01 apiece, up 12.69 per cent from the previous close.