Hindustan Media Ventures (HMVL) Q2 FY27 Profit Soars 416% as Costs Fall and Other Income Swells
The Hindi newspaper publisher posted a net profit of ₹52 crore despite revenue staying flat, driven by lower expenses and a sharp rise in other income.
Hindustan Media Ventures reported a 416% jump in Q2 FY27 net profit to ₹52 crore, even as revenue remained nearly unchanged. The surge was powered by a 16% drop in total expenses and a 90% rise in other income.
For a traditional print publisher, a flat top line often spells trouble. Hindustan Media Ventures turned that script on its head this quarter, delivering a staggering 416% jump in net profit to ₹52 crore while revenue held steady.
The numbers tell a story of transformation, not growth. Revenue was virtually unchanged year-on-year at ₹196.6 crore. Yet, net profit margin expanded dramatically to 26.5%, from just 5.1% a year ago.
Revenue & profit
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ2 FY27 (Sep 2026) | PreviousQ1 FY27 (Jun 2026) |
|---|---|---|
| Revenue (₹ Cr) | 196.58 | 197.18 |
| Profit (₹ Cr) | 52.04 | 51.17 |
| Net Profit Margin | 26.5% | 26.0% |
The engine behind the profit surge
Two forces drove profitability. First, total expenses fell 16% from the year-ago quarter, aided by asset sales and outsourcing. According to Adgully, the company has been monetizing non-core real estate and plant.
Second, other income nearly doubled to ₹51.8 crore. This includes gains from asset sales and investment income, which Indian Television Dot Com reported boosted the bottom line. This component is less predictable than core advertising revenue.
A core business in transition
The flat revenue masks a shift. The company's discontinued OTTplay business, which lost ₹24 crore a year ago, narrowed its loss to ₹3.5 crore. The core print business saw revenue from continuing operations rise 11.5%, reports Indian Television Dot Com.
Yet, the market for print advertising remains challenging. A TAM AdEx report cited by Adgully shows print ad space fell just 2% in early 2026, indicating stability but not a rebound.
The cash flow question
Strong profits did not translate into operating cash. For the first half, HMVL reported a net cash outflow of ₹68.8 crore from operations, per Indian Television Dot Com. This was offset by inflows from investing activities, mainly asset sales.
The board has approved new investments of ₹88.4 crore in tech and electric mobility ventures. This strategic pivot uses cash from asset monetization to fund future growth beyond print.
Key Points
- Net profit jumped over five-fold year-on-year to ₹52 crore on a flat revenue base of ₹196.6 crore.
- A 16% reduction in total expenses and a 90% rise in other income were the primary profit drivers.
- The company is transitioning, monetizing non-core assets to invest in technology and electric mobility businesses.
- Operating cash flow was negative for the half-year, highlighting a divergence between accounting profit and cash generation.
Hexa Perspective
This quarter shows a publisher successfully restructuring its cost base and portfolio. The profit leap is impressive but leans heavily on non-operational income and one-time asset sales.
The sustainability of this margin expansion hinges on whether core print revenue can find a growth path in a stable but flat ad market. Investors are effectively betting on management's ability to redeploy capital from old media into new ventures that can deliver returns.
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