Hinduja group company, Hinduja Ventures (HVL) today reported a rise of 76 per cent in net profit at Rs 17.75 crore in the third quarter ended December 31, 2009, compared to the year-ago period.

The company's net profit stood at Rs 10.08 crore in the same period last fiscal.

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Consolidated EBIDTA increased 32 per cent by Rs 7.13 crore.

During the quarter, HVL consolidated its effective stake in its major subsidiary, IndusInd Media & Communications (IMCL) from 62.78 per cent to 65.78 per cent, a press release issued here stated.

The media segment through IMCL and its joint ventures and subsidiaries contribute 85 per cent of the consolidated turnover of HVL and 31.5 per cent of profits.

Currently, IMCL is the largest multi-system operator in the country with more than 65 lakh subscribers across 20 major cities, the release said.

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