HMVL reports £ 45.40 CRore Q4 profit amid strong digital growth | Mint

Hindustan Media Ventures Ltd (HMVL), the publisher of Hindustan and the operator of the digital platform Ottplay, reported a profit after tax of £ 45.40 crore in the quarter, from £ 10.74 crore a year before. Operation revenue rose to £ 201.25 crore last year from £ 188.05, HMVL said in a regulatory filing on Monday. The total expenses in the fourth quarter were lower at £ 208.58 crore compared to £ 219.51 crore in the previous year. The income from the pressure and publication of newspapers and magazines was slightly lower at £ 180.59 crore compared to £ 181.47 a year earlier, the filing states. Digital segment revenue rose from £ 19.64 from £ 5.84 in the fourth quarter from the previous fiscal threefold. HMVL said its board of directors approved investments of up to £ 7.71 crore in the Electric Mobility Player for Mobility PVT. Ltd by subscribing to shares or convertible stock-linked instruments. “The investment is being made in the fast-growing target entity with the aim of using capital returns in the future with the aim of utilizing the media assets owned by the company,” the filing said. For Mobility, currently three versions of e-bikes in his portfolio that were priced between £ 35,000 and £ 55,000, he added. In 2022, OttPlay, the recommendation and content discovery platform for Streaming Services, became introduced by HT Labs, a streaming service with content of a series of OTT platforms. With the launch of OttPlay Premium, the service now offers various Indian and international video streaming services. Subscribers can now choose from language -based or thematic subscription bundles. The platform has Sonyliv, Zee5, Lionsgate Play, Sun Nxt, Shemaroome, Curiosity Stream, Shortstv and Docubay Streaming Services, except four international brands such as Hallmark Movies Now, Dust, Fuse+ and Tastemade+, which have been not available in India so far. HT Labs is the innovation platform of HT Media, which is also the publisher of Mint. Apart from Hindustan, HMVL also publishes Nandan (a child magazine), and Kadambini (a socio-cultural magazine). Although telecommunications operators also offer OTT video platforms as a bundled service, the arrival of aggregators such as Ottplay, Prime video channels, Tata Play and Airtel Xstream Premium is good for the reach and subscriber base of platforms that may not be aggressively investing in distribution and marketing.