Hinduja Ventures Q3 net profit down; income rises 22 pc

NEW DELHI: Hinduja Ventures today reported a 22 per cent decline in its net profit to Rs 21.51 crore for the three months ended December 31, 2012, while total income grew by 22 per cent to Rs 179.11 crore.

The company had a net profit of Rs 27.52 crore in October-December quarter of 2011, Hinduja Ventures, the holding company of IndusInd Media and Communication (IMCL), said in a statement.

However, the company's total income increased to Rs 179.11 crore in the third quarter ended December 31, 2012 from Rs 146.87 crore in the year-ago period.

For the nine months period ended December 31, 2012, Hinduja Ventures' net profit stood at Rs 75.35 crore, a drop of 5.42 per cent from the year-ago period.

The company's total income rose by 22 per cent from the corresponding period last year to Rs 511.08 crore in the nine months ended December quarter 2012.

Commenting on IMCL's performance, Hinduja Ventures Whole Time Director Ashok Mansukhani said,"advent of the compulsory digitisation will help bring transparency in subscription numbers and help improve the top line and bottom line of the company".