Hindustan Media Ventures Q4 results: Net profit falls 20% to Rs 22 cr

NEW DELHI: Hindustan Media Ventures Ltd (HMVL) on Thursday reported a 20.1 per cent decline in its consolidated net profit to Rs 22.07 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 27.62 crore in the January-March quarter a year ago, HMVL said in a BSE filing.

Its revenue from operations during January-March 2021 fell 8.41 per cent to Rs 161.75 crore as compared with Rs 176.61 crore in the year-ago period, the company said.

Total expenses stood at Rs 145.24 crore, down 16 per cent as against Rs 172.86 crore a year ago.

For the full financial year 2020-21, HMVL's consolidated net profit was down 38.6 per cent to Rs 73.06 crore. It had a net profit of Rs 118.97 crore in the previous year.

Its revenue from operations was at Rs 545.43 crore during 2020-21, down 31.5 per cent as compared with Rs 795.78 crore in 2019-20.

HMVL publishes 'Hindustan', a Hindi daily newspaper.

Shares of Hindustan Media Ventures Ltd on Thursday settled at Rs 94.70 apiece, down 3.47 per cent from its previous close.