HMVL's profit, revenue surge in June quarter
India, Aug. 5 -- Hindustan Media Ventures Ltd (HMVL), the publisher ofHindustanand the operator of digital platform OTTPlay, saw its profit after tax for the June quarter surge to Rs.10.24 crore from Rs.52 lakh a year earlier.
Revenue from operations rose to Rs.182.99 crore from Rs.162.18 crore in the year-ago first quarter,HMVL said in a regulatory filing on Monday. Total expenses in the first quarter were higher at Rs.197.94 crore versus Rs.188.55 crore in the year-ago period. Revenue from printing and publishing of newspapers and periodicals rose to Rs.163.35 crore from Rs.154.35 crore a year earlier.
HMVL said it has approved an investment of up to Rs.20.01 crore in the equity shares or convertible equity-linked instrument (compulsory convertible preference shares) of A&A Dukaan Financial Services Pvt Ltd, the parent company of financial marketplace BankBazaar.
HT Media Ventures is a subsidiary of HT Media Ltd, the publisher of The Hindustan Times and Mint....
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