Hinduja Ventures Limited (‘HVL’) Board met and approved the Unaudited Consolidated Financial Results of the Company for the Third Quarter and Nine Months period ended 31st December 2010.
The results include the major Media Subsidiary of the Company IndusInd Media & Communications Limited (‘IMCL’) and its various Subsidiaries and Joint Ventures. IMCL acquired six more subsidiaries during the quarter thus helping it to expand its reach and aid its inorganic growth. The highlights of the results are as under:
Consolidated Total Income for the Third Quarter was Rs. 1.19bn as compared to Rs.973.2mn for the same period in the previous year.
Consolidated Total Income grew 23% for the Quarter as compared to previous period
Consolidated Total Income for the period nine months ended December 2010 was Rs.3.33bn as against Rs. 2.71bn for the same period in previous year.
Consolidated Total Income registered a rise of 22.73% YoY for period ended December 2010.
Consolidated Net Profit After Tax and Minority Interest for the period December 2010 was Rs. 700.5mn as against Rs. 443.7mn in the same period in previous year.
Net Profits grew 57.86% YoY for the period ended December 2010.
HVL registered Consolidated Net Profit After Tax and Minority Interest of Rs. Rs.218.6mn for the Quarter as compared to Rs. 177.5mn
Profits registered a rise of 23.10% for the Quarter as compared to the previous period.
Media Segment contributed 86% of Total Income and 55% of Net Profit After Tax for the period nine months ended 31st December 2010.
Financial Highlights of Media Subsidiaries:
HVL Media Segment is represented by a major Media Subsidiary, IMCL and IMCL’s Joint Venture and Subsidiaries. IMCL operates in the cable distribution space with significant presence in digital and analogue cable.
Media Segment Total Income was Rs. 2.86bn as against Rs. 265.59 Crore for the period ended December 2010, rise of 7.84% YoY.
Net Profit After Tax and Minority Interest for the Quarter was Rs. 46.90 Crore as compared to Rs. 21.61Crore in for the same period in previous year, registering a growth of Rs. 117%.
Total Income for the Quarter was Rs. 1.09bn as against Rs. 1.16bn for the Quarter in previous year.
Net Profit After Tax and Minority Interest for the Quarter was Rs. 192.5mn as compared to Rs. 9.00 Crore for the Quarter in previous year .
Net Profits for the Quarter grew 113.75% as compared to previous period.
EBIDTA of Media Subsidiaries was Rs. 88.40 Crores for the period ended Nine Months ended December 2010 as compared to Rs. 483mn for the same period in previous year, a growth of 83%.
EBIDTA for the Quarter was Rs. 366.3mn as compared to Rs. 16.22 Crore for the Quarter in previous year a rise of 125.79% .
HVL Standalone Results:
HVL on standalone basis reported a Total Income of Rs. 618.8mn for the nine months period ended 31st December, 2010 as against Rs. 47.25 Crore in the Previous Year, an increase of 23.64%. The Net Profit After tax for the period grew by 38.66% from Rs. 30.82 Crore to Rs. 427.3mn
For the Third Quarter, HVL reported a Total Income of Rs. 227mn as against Rs. 17.09 Crore. Net Profit After tax for the Quarter is Rs. 15.55 Crore as compared to Rs. 12.20 Crore in the last year, a rise of 27.43%.