Hinduja Ventures Q2 2011 net profit up 7.29 per cent

Expects IMCL's subscription revenue to shoot up with the digitization of cable TV services

BestMediaInfo Bureau | Delhi | October 20, 2011

The Board of Hinduja Ventures Limited ('HVL') at its meeting held yesterday approved Unaudited Financial Results for the Quarter and Half Year ended 30^th September, 2011. HVL results include financials of its major media cable distribution subsidiary IndusInd Media & Communications Limited (“IMCL').

Consolidated Financial Results:

• Consolidated Total Income for the half year ended was Rs. 268.32 Crore as compared to Rs. 213.47 Crore in similar period for Previous Year. Consolidated Total Income grew 24.61 per cent YoY.

• Consolidated Net Profit After Tax and Minority Interest grew by 8.20 per cent for the period ended September 2011 from Rs. 48.20 Crore to Rs. 52.15 Crore.

• EBIDTA for half year ended stood at Rs. 109.23 Crore as against Rs. 81.98 Crore, a rise of 33.24per cent.

Second Quarter Results:

• Consolidated Total Income for the Quarter was Rs. 142.36 Crore as compared to Rs. 116.31 Crore for the same period in previous year.

• Consolidated Total Income grew 22.39per cent for the quarter as compared to previous period.

• Consolidated Net Profit After Tax and Minority Interest for the Quarter stood at  Rs. 30.59 Crore as against Rs. 28.51 Crore, a rise of 7.29per cent.

• EBIDTA for the Quarter stood at Rs. 59.43 Crore as against Rs. 47.86 Crore, a rise of 24.18per cent.

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.

• IMCL Total Income was Rs. 235.32 Crore as against Rs. 177.01 Crore for the half year ended September, 2011, a rise of 32.94 per cent YoY.

• Net Profit After Tax and Minority Interest for the period was Rs. 37.67 Crore as against Rs. 27.65 Crore in the previous year, registering a growth of 36.23per cent.

• Total Income for the Quarter was Rs.122.79 Crore as against Rs. 94.89 Crore for the Quarter in previous year, a rise of 29.40per cent

• Net Profit After Tax and Minority Interest for the Quarter was Rs. 18.54 Crore as compared to Rs. 17.58 Crore for the Quarter in previous year, a rise of 5.44per cent.

• EBIDTA of Media Subsidiaries was Rs.80.23 Crore for the half year as compared to ` Rs. 51.77 Crore over previous year registering a growth of 54.97per cent.

• EBIDTA for the Quarter was Rs. 40.62 Crore as compared to Rs. 30.97 Crore for the same period in previous year a rise of 31.18per cent

HVL Standalone Results:

HVL on standalone basis reported a Total Income of Rs. 41.78 Crore for the current half year as against Rs. 39.17 Crore. The Net Profit After tax for the period grew by 9.72per cent from Rs. 27.18 Crore to Rs. 29.83 Crore, buoyed by treasury gains.

For the Quarter, HVL reported a Total Income of Rs. 22.94 Crore as against Rs. 21.93 Crore. Net Profit After tax for the Quarter stood at 16.54 Crore as compared to Rs.15.52 Crore in the last year, a rise of 6.54per cent.

The much awaited Digital Policy (Sunset of analogue Cable) for the Cable Industry was finally passed by the Cabinet last week. It now awaits sign off from the President of India for implementation. IMCL's subscription revenue next year is expected to increase manifold due to transparency in the digital cable regime.

Info@BestMediaInfo.com

Info@BestMediaInfo.com