Hindustan Media Q1 net up 23% at Rs 41.71 crore

Net sales during the quarter increased by 6.93% to Rs 221.51 crore

Hindustan Media Ventures Ltd (HMVL) today reported a 23.11 per cent increase in its standalone net profit at Rs 41.71 crore for the first quarter of 2015-16.

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.

During the three months ended June 30, total expenses stood at Rs 174.72 crore compared with Rs 173.32 crore a year earlier, it added.

HMVL is in the business of printing and publication of newspapers and periodicals including Hindi daily Hindustan.

Shares of HMVL were trading at Rs 242.30 apiece in afternoon trade on BSE, up 1.17 per cent from its previous close.