HINDUSTAN MEDIA VENTURES Announces Quarterly Results (4QFY19); Net Profit Down 59.1%

Fri, 10 May

HINDUSTAN MEDIA VENTURES has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

HINDUSTAN MEDIA VENTURES Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	2,022	2,206	2,130	-3.4%	5.3%
Other income	Rs m	257	322	284	-12.0%	10.4%
Turnover	Rs m	2,279	2,528	2,414	-4.5%	5.9%
Expenses	Rs m	1,758	2,074	2,033	-2.0%	15.7%
Gross profit	Rs m	264	132	97	-26.7%	-63.4%
Depreciation	Rs m	47	54	54	0.0%	15.6%
Interest	Rs m	31	52	26	-51.2%	-18.8%
Profit before tax	Rs m	443	348	301	-13.5%	-32.1%
Tax	Rs m	40	56	136	141.8%	240.6%
Profit after tax	Rs m	403	292	165	-43.4%	-59.1%
Gross profit margin	%	13.1	6.0	4.5
Effective tax rate	%	9.0	16.2	45.2
Net profit margin	%	17.7	11.5	6.8

Year-on-Year Performance:

• The company's operating income during the quarter grew 5.3% on a year-on-year (YoY) basis. The expenses were up by 15.7% YoY during the same period.
• The company's operating profit declined by 63.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 4QFY19 as against 13.1% in 4QFY18.
• Depreciation charges increased by 15.6% and finance costs declined by 18.8% YoY, respectively.
• Other income increased by 10.4% YoY during the quarter.
• Net profit for the quarter declined by 59.1% YoY. Net profit margins during the quarter declined from 17.7% in 4QFY18 to 6.8% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 3.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.0% QoQ during the same period.
• The company's operating profit declined by 26.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 4QFY19 as against 6.0% in 3QFY18.
• Net profit for the quarter declined by 43.4% QoQ, while net profit margins declined from 11.6% in 3QFY18 to 6.8% in 4QFY19.

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

HINDUSTAN MEDIA VENTURES Share Price Performance

Over the last one year, HINDUSTAN MEDIA VENTURES share price has moved up from Rs 211.4 to Rs 113.7, registering a Loss of Rs 97.7 or around 46.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,625.0 (down 0.7%). Over the last one year it has moved up from 6,885.7 to 7,625.0, a gain of 739 points (up 10.7%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 113.7, the price to earnings (P/E) ratio of HINDUSTAN MEDIA VENTURES stands at 8.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.