Hindustan Media Ventures Q1 net falls 73.51% to Rs 10.28 crore

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Hindustan Media Ventures Ltd (HMVL) on Monday reported a 73.51 percent decline in its consolidated net profit to Rs 10.28 crore for the quarter ended on June 30, 2020, due to lower income.

The company had posted a profit of Rs 38.81 crore in the April-June quarter of the preceding fiscal, Hindustan Media Ventures Ltd (HMVL) said in a BSE filing.

Total income during the quarter under review stood at Rs 139.3 crore, down 41.73 percent, as compared to Rs 239.1 crore in the year-ago period.

The company publishes Hindi daily 'Hindustan' and magazines like Nandan and Kadambini.

Shares of HMVL settled 2.64 percent lower at Rs 48 apiece on the BSE.