Views on Hindustan Media Ventures Ltd 2QFY2016 Results: Angel Broking

Views on Hindustan Media Ventures Ltd 2QFY2016 Results: Angel BrokingViews of Mr. Amarjeet Maurya (Sr. Research Analyst - Mid Caps, Angel Broking) on Hindustan Media Ventures Ltd 2QFY2016 Results:

"For 2QFY2016, Hindustan Media Ventures Ltd (HMVL) reported earnings above our estimates. The top-line grew by ~14% yoy to ~INR 227cr, mainly due to decent growth in both the segments, i.e. (a) advertising revenues reported a ~18% yoy growth and (b) circulation revenues reported a ~8% yoy growth. For the quarter, the company reported an operating profit of ~INR 52cr, up ~33% yoy. Further, the company's operating margin expanded by 334bp yoy to 22.9% for the quarter, primarily on account of lower raw material prices which were down 452bp as a percentage of sales, mainly due to decrease in newsprint costs. The net profit grew by ~43% yoy to ~INR 45cr due to improvement in performance at the operating level and higher other income. Currently, we have an ACCUMULATE rating on the stock."

Shares of HINDUSTAN MEDIA VENTURES LTD. was last trading in BSE at Rs.275.6 as compared to the previous close of Rs. 281.3. The total number of shares traded during the day was 21956 in over 713 trades.

The stock hit an intraday high of Rs. 283 and intraday low of 272.3. The net turnover during the day was Rs. 6085399.

Source : Equity Bulls

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