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HVL elevates Ashok Mansukhani as MD, IMCL

HVL reported a net profit of Rs 88.39 crore after tax for the nine months that ended on December 31, 2016, up from Rs 86.41 crore during nine months that ended on December 31, 2015

HVL elevates Ashok Mansukhani as MD, IMCL

HVL reported a net profit of Rs 88.39 crore after tax for the nine months that ended on December 31, 2016, up from Rs 86.41 crore during nine months that ended on December 31, 2015

BestMediaInfo Bureau | Mumbai | February 13, 2017

Ashok Mansukhani Ashok Mansukhani

Hinduja Ventures Limited (HVL) has announced the elevation of Ashok Mansukhani as Managing Director of Indusind Media and Communications Limited (IMCL) and Grant Investrade Limited (GIL). Mansukhani was till recently the whole-time Director of HVL. He took up the new role with effect from February 1, 2017.

The decisions were taken on the back of the board of directors of GIL, a wholly owned subsidiary of HVL and IMCL, a subsidiary of HVL, at their respective meetings held on February 8 and 9, 2017. The board of directors of HVL unanimously approved the appointment of Mansukhani.

The scheme of arrangement between GIL and IMCL, wherein GIL will de-merge its Headend-in-the-Sky (HITS) business undertaking to IMCL, is under process.

Along with clearing Mansukhani's elevation, the Board of HVL at its recently held meeting also approved the un-audited standalone financial results for the quarter and nine months that ended on December 31, 2016. HVL, on standalone basis, reported a net profit after tax for the nine months that ended on December 31, 2016 of Rs 88.39 crore. Whereas, the company had reported the same as Rs 86.41 crore during nine months that ended on December 31, 2015. Net profit after tax for the period grew by 2.29 per cent.

HVL, on standalone basis, also reported for the quarter that ended on December 31, 2016 a net profit after tax of Rs 35.99 crore which grew by 4.92 per cent from Rs 34.31 crore for the quarter that ended on December 31, 2015.

For the record, HVL operates across three segments: media and communication, real estate, and investment and treasury. HVL is the holding company of the integrated media company IMCL and GIL, which has launched the HITs digital platform under the brand name NXT Digital.

Info@BestMediaInfo.com

Info@BestMediaInfo.com

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