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Hindustan Media Ventures reports 32 per cent higher PAT in FY-2014

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BENGALURU: Hindi newspaper ‘Hindustan’, Hindi socio cultural magazine ‘Kadambini’ and children’s Hindi magazine ‘Nandan’ publishers Hindustan Media Ventures Limited (HMVL - not to be confused with HT Media Limited of Hindustan Times, Mint and Fever FM fame) reported a 31.58 per cent growth in PAT at Rs111.21 crore (15.24 per cent of Income from Operations or Op Inc) in FY-2014, as compared to the Rs 84.52 crore (13.28 per cent of Op Inc) in FY-2013.

Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million

HMVL chairperson Shobhana Bhartia said, “We are glad to close the year with a strong growth in revenue and profitability. While our pricing initiatives have contributed to top-line growth, our sustained cost control measures have ensured an increase in profitability despite rising input costs.”

“This year’s performance also reaffirms Hindustan’s dominance in Bihar and Jharkhand and its stature as the fastest growing daily in Uttar Pradesh and Uttarakhand. With a strong brand, growing readership, and healthy balance sheet, we are confident that we will continue to deliver value to our shareholders,” added Bhartia.

Let us look at the other main numbers reported by HMVL for Q4-2014 and FY-2014

HMVL PAT in Q4-2014 at Rs 27.21 crore (14.80 per cent of Op Inc) was (-5.21) per cent lower than the immediate trailing quarter Q3-2014 PAT of Rs 28.79 crore (15.26 per cent of Op Inc, but 19.87 per cent more than the year ago quarter Q4-2013 PAT of Rs 22.70 crore (14.61 per cent of Op Inc).

HMVL reported slightly lower Op Inc in Q4-2014 at Rs183.18 crore (-2.53 per cent lower) than the Rs188.65 crore in Q3-2014, but 18.32 per cent higher than the Rs155.41 crore in Q3-2013.

For FY-2014, HMVL Op Inc at Rs 729.72 crore was 14.69 per cent higher than the Rs 636.27 crore in FY-2013.

HMVL Total Expense in Q4-2014 at Rs155.58 crore was (-1.09) per cent lower than the Rs157.30 crore in Q3-2014 and 18.52 per cent more than the Rs131.27 crore in Q4-2013. In FY-2014, Total Expense at Rs 600.04 crore was 10.02 per cent more than the Rs 545.41 crore in FY-2013.

Raw materials constitute almost half of HMVL’s Total Expense. The company spent Rs 80.76 crore (51.91 per cent of Total Expense) in Q4-2014 which was 0.16 per cent more q-o-q than the Rs 80.63 crore (51.26 per cent of Total Expense) in Q3-2013 and 27.52 per cent more y-o-y than the Rs 63.33 crore (48.24 per cent of Total Expense) in Q4-2013. In FY-2013, the company spent Rs 300.44 crore towards raw materials (50.07 per cent of Total expense) which was 13.47 per cent more than the Rs 264.78 crore (48.55 per cent of Total Expense).

The company says that EBITDA increased by 29 per cent to Rs 181.8 crore from Rs 141 crore primarily due to growth in advertising and circulation revenues.

It says that growth was partially offset by increase in consumption of raw materials due to increase in newsprint price and consumption.

It saw an 8 per cent increase in employee costs to Rs 86.6 crore from Rs 80.4 crore; a  7 per cent increase in other expenditure to Rs 191.4 crore from Rs 178.7 crore due to increase in advertising and sales promotions expense.

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