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FY-2015: Hinduja Ventures reports 13% growth in standalone profit

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BENGALURU: Hinduja Ventures Limited (HVL), the holding company of IndusInd Media & Communications Limited (IMCL) reported a 12.9 per cent growth in standalone net profit after tax (PAT) to Rs 92.59 crore in FY-2015 as compared to a PAT of Rs 82.03 crore in FY-2014. 

The company reported total standalone income of Rs 110.45 crore for the current year ended as against Rs 106.54 crores in FY-2014.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

HVL consolidated total income for the year ended was Rs 786.11 crore as compared to Rs 773.49 crore for the same period in the previous year. Consolidated total income grew by 1.63 per cent y-o-y. Consolidated net profit after tax and minority interest has increased for the year ended 31 March, 2015 from 0.21 crore to 18.25 crore. EBIDTA for the year end stood at Rs 146.75 crore as against Rs 144.11 crore in the previous year.

Its media segment reported a 15 per cent drop in revenue in FY-2015 to Rs 536.16 crore as compared to the Rs 638.84 crore in the previous year. The loss from this segment widened to Rs 239.71 crore in FY-2015 from Rs 197.33 crore in the previous year.

During the year, IMCL, has disposed its investment in one of its subsidiary company - Jagsumi Perspectives Pvt. Ltd. and the said company has ceased to be a subsidiary of the company effective 31 December, 2014. IMCL booked a loss of Rs 6.2 crore in the said transaction and the same is disclosed under exceptional item in the Consolidated Profit and Loss Statement.

During the year, the company entered into a business Transfer Agreement with a Bangalore  based company viz. Mplex Networks Private Limited (Mplex), to acquire their Digitally Addressable Cable Television Network (CATV) rights pertaining to Bangalore and Mysore region together with certain fixed assets pertaining to CATV division for an overall consideration of Rs 35 crore.

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