Views on Hindustan Media Ventures Limited 3QFY2016 Result: Angel Broking

Views of Mr. Amarjeet Maurya (Sr. Research Analyst - MidCaps, AngelBroking) on Hindustan Media Ventures Limited 3QFY2016 Results:

"For 3QFY2016, Hindustan Media Ventures Ltd (HMVL) reported earnings above our estimates. The top-line grew by ~16% YoY to ~INR 240cr, mainly due to decent growth in both the segments, i.e. (a) advertising revenues reported a ~19% YoY growth and (b) circulation revenues reported a ~6% YoY growth. For the quarter, the company reported an operating profit of ~INR 60cr, up ~50% YoY. Further, the company's operating margin expanded by 564bp YoY to 25.0%, primarily on account of lower raw material prices which were down 482bp as a percentage of sales (mainly due to decrease in newsprint costs). The net profit grew by ~28% YoY to ~INR 47cr due to improvement in performance at the operating level. We will revisit our target price post the conference call with the Management."

Shares of HINDUSTAN MEDIA VENTURES LTD. was last trading in BSE at Rs.274 as compared to the previous close of Rs. 278.2. The total number of shares traded during the day was 887 in over 42 trades.

The stock hit an intraday high of Rs. 280.9 and intraday low of 274. The net turnover during the day was Rs. 247814.

Source : Equity Bulls

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