Hinduja Ventures Q2 profit dips by 10.42 pc at Rs 27.40 crore

MUMBAI: Hinduja Ventures ( HVL), the holding company of IndusInd Media and Communication (IMCL), today reported 10.42 per cent decline in profit after tax (PAT) at Rs 27.40 crore for the quarter ended September 30.

The company's PAT stood at Rs 30.59 crore in the corresponding quarter of the previous fiscal, HVL said in a release issued here.

The consolidated total income for second quarter grew by 9.52 per cent to Rs 160.78 crore compared to Rs 146.80 crore for the same period in the previous year.

Commenting on the performance, HVL Whole-Time Director Ashok Mansukhani said the advent of compulsory digitisation will help bring transparency in subscription numbers almost five-fold and help improve the top line and bottom line of the company.

IMCL expects to convert all its 36 cities to DAS by September 2014, as per the government mandate.

The company is well geared to monetise the digital transformation with compulsory digitisation scheduled to be launched from November 1, 2012.