Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Hinduja Ventures rechristened NXTDIGITAL

The company reported a profit of Rs 124.18 crore against a loss after tax of Rs 175.20 crore.

Nov 17, 2019, 04.29 PM IST
Getty Images
New Delhi: Hinduja Ventures, the listed holding company of integrated digital platform IndusInd Media & Communications, has been rechristened as 'NXTDIGITAL' with all regulatory approvals, the company said.

The re-branding comes close on the heels of the various actions being undertaken as part of the corporate reorganisation which involved demerging of the cable television and HITS business from IndusInd Media & Communications Ltd (IMCL) and merging it with NXTDIGITAL, subject to all statutory approvals, it added.

The board of directors at its meeting held on August 27, 2019 had approved the scheme of arrangement by which the media and communications undertaking of IndusInd Media & Communications Limited will demerge into the company with appointed date as October 1, 2019, subject to regulatory and shareholders approval.

Meanwhile, on a consolidated basis, NXTDIGITAL Limited reported a total income of Rs 387.32 crore for the quarter ended September 30, as against Rs 170.39 crore during the corresponding period of last year.

The company reported a consolidated net profit after tax of Rs 124.18 crore for the quarter as against a net loss after tax of Rs 175.20 crore for the year-ago period.
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service