Name: Latest research reports of Hindustan Media Ventures Ltd. authored by Angel Broking and published by - Trendlyne research reports.
Item: Hindustan Media Ventures Ltd.
Rating: 3
Author: Angel Broking

Hindustan Media Ventures Ltd- Research Report

Hold: Hindustan Media Ventures Ltd.

Angel Broking

For 3QFY2016, Hindustan Media Ventures Ltd (HMVL) reported earnings above our estimates. The top-line growth was healthy with strong growth in advertising and circulation revenue. Advertising revenue growth for the quarter was strong due to festive season and state elections in Bihar. On the operating front too, the companys performance was strong, which in turn led to a higher PAT growth. Strong growth in ad and circulation revenue: HMVL registered a growth of ~19% yoy in advertising revenue to ~Rs181cr. This was on back of the festive season that fuelled advertising spends across most sectors, state elections in Bihar, as well as internal initiatives. Further, the company reported a ~6% yoy growth in circulation revenue to Rs54cr on back of higher circulation volume as well as realization per copy. Higher PAT on back of strong operating performance: The company reported a strong PAT growth of ~28% yoy on the back of a strong operating performance. The operating performance was strong on account of lower cost of news print which is a key raw material for HMVL. Outlook and valuation: Going forward, we believe that the company would perform well, both on the top-line and bottom-line fronts, on back of strong...