Hindustan Media Ventures today reported a 19 per cent rise in its consolidated net profit at Rs 52.15 crore for the third quarter ended December 31, 2017. The company had posted a net profit of Rs 43.82 crore in the October-December quarter of the previous fiscal, Hindustan Media Ventures Ltd (HMVL) said in a BSE filing. Its total income during the period under review was marginally down at Rs 251.51 crore as against Rs 251.81 crore in the corresponding quarter of 2016-17. Commenting on the results, HMVL Chairperson Shobhana Bhartia said: "The quarter witnessed overall revenue growth with advertising revenue picking up sharply towards the end of the period.
The growth, however, comes over a base impacted by both an early festive season and demonetisation." HMVL's total expenses during the quarter under review were down 9.47 per cent to Rs 179.45 crore as against Rs 198.24 crore in the October-December period of 2016. Shares of HMVL today settled at Rs 265.70 on BSE, up 0.95 per cent from previous close.