HINDUSTAN MEDIA VENTURES Announces Quarterly Results (2QFY21); Net Profit Down 77.1%

Tue, 27 Oct

HINDUSTAN MEDIA VENTURES has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

HINDUSTAN MEDIA VENTURES Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-19*	3 Jun-20*	3 Sep-20*	QoQ Change	YoY Change
Net Sales	Rs m	1,927	899	1,312	46.0%	-31.9%
Other income	Rs m	293	494	241	-51.2%	-17.7%
Turnover	Rs m	2,220	1,393	1,553	11.5%	-30.0%
Expenses	Rs m	1,725	1,166	1,415	21.4%	-17.9%
Gross profit	Rs m	203	-267	-103		-151.0%
Depreciation	Rs m	87	79	78	-1.4%	-11.0%
Interest	Rs m	25	26	26	0.8%	5.2%
Profit before tax	Rs m	383	123	34	-72.4%	-91.2%
Tax	Rs m	178	5	-13	-350.9%	-107.5%
Profit after tax	Rs m	206	117	47	-59.8%	-77.1%
Gross profit margin	%	10.5	-29.7	-7.9
Effective tax rate	%	46.3	4.3	-39.3
Net profit margin	%	9.3	8.4	3.0

Year-on-Year Performance:

• The company's operating income during the quarter fell 31.9% on a year-on-year (YoY) basis. The expenses were down by 17.9% YoY during the same period.
• The company's operating profit declined by 151.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.9% in 2QFY21 as against 10.5% in 2QFY20.
• Depreciation charges declined by 11.0% and finance costs increased by 5.2% YoY, respectively.
• Other income declined by 17.7% YoY during the quarter.
• Net profit for the quarter declined by 77.1% YoY. Net profit margins during the quarter declined from 9.3% in 2QFY20 to 3.0% in 2QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 46.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.4% QoQ during the same period.
• The company's operating profit declined by 61.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.9% in 2QFY21 as against 29.7% in 1QFY20.
• Net profit for the quarter declined by 59.8% QoQ, while net profit margins declined from 8.4% in 1QFY20 to 3.0% in 2QFY21.

To see how HINDUSTAN MEDIA VENTURES has performed over the last eight quarters,please visit here.

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HINDUSTAN MEDIA VENTURES Share Price Performance

Over the last one year, HINDUSTAN MEDIA VENTURES share price has moved down from Rs 74.0 to Rs 50.0, registering a Loss of Rs 24.0 or around 32.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 9,824.7 (down 0.4%). Over the last one year it has moved up from 7,154.3 to 9,824.7, a gain of 2,670 points (up 37.3%).

Overall, the S&P BSE SENSEX is up 3.2% over the year.

Current Valuations

At the current price of Rs 50.0, the price to earnings (P/E) ratio of HINDUSTAN MEDIA VENTURES stands at 4.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.