Hindustan Media Q1 profit soars 23% to Rs 41.71 cr

Hindustan Media Ventures Ltd (HMVL) on Tuesday reported 23.11 per cent increase in standalone net profit at Rs 41.71 crore for the first quarter ended June 30, 2015. The company had posted a standalone net profit of Rs 33.88 crore in the same quarter of 2014-15, Hindustan Media Ventures Ltd (HMVL) said in a filing to the BSE. Net sales during the quarter increased by 6.93 per cent to Rs 221.51 crore from Rs 207.14 crore in the year-ago period. Commenting on the results, HMVL Chairperson Shobhana Bhartia said: "The quarter's performance was according to plan, and we saw a healthy growth in operating revenue and profits. "Our operations in Uttar Pradesh and Uttarakhand continue to drive growth in advertising and profitability. And we have further strengthened our dominant leadership positions in Bihar and Jharkhand despite a higher intensity of competition."