Hindustan Media Q1 net profit up 57 pc at Rs 30.30 cr

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Hindustan Media Ventures Ltd (AP) Hindustan Media Ventures Ltd (AP)
SummaryCompany's net sales went up by 13.20 per cent to Rs 177.33 crore.

Hindustan Media Ventures Ltd today reported 56.67 per cent jump in net profit at Rs 30.30 crore for the first quarter ended June 30, 2013. The company's net profit stood at Rs 19.34 crore in the corresponding period a year ago. The company's net sales went up by 13.20 per cent to Rs 177.33 crore as against Rs 156.65 crore a year ago. As on June 30, 2013, the company had unutilised IPO balance of Rs 23.04 crore meant to setting up of new publishing unit, the company said in a BSE filing.

Hindustan Media's total expenses in the quarter ended June 30, 2013 were at Rs 145.98 crore, an increase of 5.17 per cent as against Rs 138.80 crore in the same quarter a year ago. Earnings per share of the company in the quarter ended June 30, 2013 were at 4.13 as against 2.64 in the corresponding quarter last year. Shares of Hindustan Media Ventures were trading at Rs 123.30 apiece in the afternoon, up 2.20 per cent from their previous close.

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