By Vivek K. Mobile: 09920183006 Email:email@example.com
The Board of HVL at its meeting held today approved un-audited standalone financial results for the quarter and nine months ended December 31, 2017.
HVL Standalone Results:-
HVL on standalone basis reported a total income of Rs. 169.12 Crores for the nine months ended December 31, 2017 as against Rs. 173.91 Crores for the nine months ended December 31, 2016.
The net profit after tax for nine months ended December 31, 2017 stood at Rs. 88.80 Crores as against Rs. 88.39 Crores during nine months ended December 31, 2016. The Net Profit After Tax for the period ended grew by 0.47 %.
For the quarter ended December 31, 2017, the total income of the Company stood at Rs. 64.88 Crores compared to Rs 53.58 Crores for the quarter ended September 30, 2017 and Rs. 52.79 Crores for the quarter ended December 31, 2016.
The net profit after tax for the quarter ended December 31, 2017 stood at Rs. 33.76 Crores as against Rs. 29.55 Crores for the quarter ended September 30, 2017 and Rs. 35.99 Crores for the quarter ended December 31,2016.
IndusInd Media & Communications Limited (IMCL)
Restructuring focused on future growth:
With the aim of creating value in the Media Business, the media subsidiary of the company, IMCL has been engaged in a focused restructuring exercise. As part of this exercise, the Broadband business and the fibre optic network have been sold and transferred to other companies and complete focus is being put on the CATV and HITS business. This is expected to create long term stakeholder value.
IMCL continues to make inroads into the rural areas of India through its Head End in the Sky (HITS) platform. IMCL is the only Digital Platform Operator (DPO) to cover all 29 States and 4 Union Territories. This is due to major penetration in last 12 months utilising NXT Digital HITS platform. This makes IMCL a truly PAN Indian high quality digital delivery platform. NXT Digital copes are active in 1068 pin codes with signals transmitted to 1394 pin codes in 888 distinctive locations.
The Company feels that there is scope for deployment for DPO to an additional 30 million homes in rural universe of 99 million homes. Another 20 million homes await power to households and will begin to watch television in next 3 years.
IMCL has converted 95% of its subscription mode to prepaid through the Local Cable Operator. The balance 5% homes are being rapidly converted to prepaid in the coming weeks. This will make IMCL the only 100% cable/ HITS DPO in the country.
The industry awaits the Court Orders on the New Tariff order as it can re-define the economics of the business with a fair distribution of revenue to all the stake holders in the TV signals distribution chain.
About Hinduja Ventures Limited (www.hindujaventures.com):-
Hinduja Ventures Limited (“HVL”) operates across three segments: media and communication, real estate, and investment and treasury. HVL is the Holding Company of one of India’s largest integrated media company i.e. IndusInd Media & Communications Limited (IMCL).
About Hinduja Group:-
The Hinduja Group is one of India’s premier diversified and transnational conglomerates. Employing over 100,000 employees, with presence across 38 countries it has multi-billion-dollar revenue. The Group was founded over a hundred years ago by Shri P.D. Hinduja whose credo was “My duty is to work so that I can give.”
The Group’s activities span across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance Services, Infrastructure Project Development, Oil and Gas, Power, Real Estate, Trading and Healthcare.