Mumbai: The Board of HVL at its meeting held today approved un-audited standalone financial results for the quarter and nine months ended December 31, 2016.
HVL Standalone Results:
- HVL on standalone basis reported a net profit after tax for the nine months ended December 31, 2016 of Rs. 88.39 crores from Rs. 86.41 crores during nine months ended December 31, 2015. Net Profit After Tax for the period grew by 2.29%.
- HVL on standalone basis reported for the quarter ended December 31, 2016 the net profit after tax of Rs. 35.99 crores which grew by 4.92% from Rs. 34.31 crores for the quarter ended December 31, 2015.
Appointment of Mr. Ashok Mansukhani as Managing Director of Indusind Media & Communications Limited and Grant Investrade Limited:
The Board of Directors of Grant Investrade Limited (GIL), a wholly owned subsidiary of HVL and IndusInd Media & Communications Limited (IMCL), a subsidiary of HVL at their respective meeting held on February 08, 2017 and February 09, 2017 has appointed Mr. Ashok Mansukhani, a Whole-Time Director of HVL as Managing Director of GIL and IMCL respectively w.e.f February 01, 2017.
The Board of Directors of HVL at its Meeting held today, noted the same and unanimously recorded its consent towards appointment of Mr. Ashok Mansukhani as Managing Director of GIL and IMCL.
Scheme of Arrangement between Grant Investrade Limited (GIL) and IndusInd Media & Communication Limited (IMCL):
The scheme of arrangement between Grant Investrade Limited (GIL), a wholly owned subsidiary of the Company and IndusInd Media & Communications Limited (IMCL), a subsidiary of the Company, wherein GIL will de-merge its Headend-in-the-Sky (HITS) business undertaking to IMCL is under process.
