Hindustan Media Ventures Limited (HMVL), the company engaged in the printing&publication of newspapers and periodicals in India., reported a sharp increase in its profit. As per the Company report, its net profit spiralled up to Rs39.67-Cr for the 3-months ended June, up from Rs.13.20-Cr in the corresponding period last year.
This was in spite of a rising fall in the company’s operating revenue, which declined to Rs217.94-Cr from Rs226.56 cr last year, while operating revenue was up from Rs212.97-Cr, sequentially. Operating profit jumped to Rs48.78-cr from Rs 18.26-cr a year ago and Rs30.08-cr in the previous 3 months.
Reacting to this results, the stock was in upper circuit during mid-session. Hindustan Media Ventures Limited opened at Rs.80.15per share and registered a high of Rs.93.40 Up by over 11% and also dipped to a low of Rs.80.15 per share, at intraday.
At market closing level, the Hindustan Media Ventures stock ended at Rs.99.05 per share, up by 0.8.66%. Meanwhile, the benchmark indices were down beat with BSE Sensex closing at 38032.13 down by 305 points and Nifty at 11346.20 down by 73 points or 0.64%