Hum Network Limited has finally managed to turn the tide as the media giant recorded a profit of over Rs. 900 million after two years of losses.
According to the financial statement, the media group made a profit of over Rs. 1.101 billion in the financial year 2020-21, as compared with the losses of Rs. 113 million reported in the previous financial year of 2019-20. The group also reported a loss of Rs. 537 million in the financial year 2018-19.
The media tycoon fell into losses two years ago — during COVID-19 — however, it recovered from this crisis to become a profitable entity again.
The company also remained in rumors of transition in shareholding from a major group, which ultimately proved to be false. The group featured favorite drama serials in 2021, which attracted handsome income from advertisements.
Overall, during the financial year 2020-21, the group earned a gross profit of Rs. 1.6 billion. It is driving revenues from other income sources and gains on assets, and its earnings per share surged to Rs. 1.07 from loss per share of Rs. 0.12.