MoIB places HUM News at Slab-1

MG News | December 28, 2021 at 02:00 PM GMT+05:00

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December 28, 2021 (MLN): The Ministry of Information and Broadcasting (MoIB) has placed Hum News channel at Slab-1 and increased its advertisement rates to Rs140,000 per minute, company filing on bourse showed today.

In a notice to exchange, the Hum Netwrok Limited (HUMNL) informed that the ministry of information and broadcasting, through its rate fixation committee has increased government advertisement rates for the channel “HUM News” from Rs100,000 to Rs140,000 per minute, and placed the channel at slab-1.

The said revision of 40% in the rates will have a positive impact on the revenues of the company, notice read.

The latest available financial statement of the company shows that HUMNL revenues during 1QFY22 registered a growth of 34% YoY. The gross profit of the company increased by Rs308 millin YoY, resulting in gross margin of 50%. Whereas, the net profit of the company clocked in at Rs251 million, resulting in earnings per share of Re0.27.

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