Jagran Net profit up by 91.97%

Kanpur: Jagran Prakashan Limited (JPL) (BSE SCRIP ID: 532705; NSE SYMBOL: JAGRAN), publishers of ‘Dainik Jagran’, India’s largest read newspaper (Source: Indian Readership Survey 2010(Q1)), has reported operating revenues of Rs. 941.89 crores for FY10, an increase of 14.39% over the previous year. The net profit for the year was at Rs 175.90 crores and the EPS for the year was at Rs 5.84, an increase of 91.97% over the FY2009. EBIDTA margin (excluding other income) for the year 29.97% as against 19.03% for the previous year.

Operating revenues for Q4FY10 was Rs. 236.28 crores, an increase of 17.41% over the corresponding quarter of the previous year. The net profit was at Rs 36.38 crores and the EPS for the quarter was at Rs 1.21, an increase of 68.04% over Q4 of FY 2009. EBIDTA margin (excluding other income) for the quarter was 26.77% as against 19.30% for the corresponding quarter in the last year.

The Company has been investing in the Event and Outdoor businesses with a view to diversifying and broad basing the growth. In FY10, both businesses have shown strong traction with revenue growing to Rs.70.86 crores from Rs. 55.02 crores in FY 09, registering an impressive growth of 28.79% over FY09.

Indian Readership Survey 2010Q1 reaffirmed status of Dainik Jagran as highest read newspaper in the country across all languages. This was 14th time in a row. Dainik Jagran won First Place award in category of Readership/ Usage of Print News Paper at 80th Annual International News Media Marketing Association(INMA) leaving far behind all others for its most impactful General Election Campaign “Jan Jagran “ aimed at reforming the Indian Politics through votes .Three more editions of I-next were successfully launched in the states of Jharkhand and Uttar Pradesh taking the total number of editions to 12. Indian Readership Survey 2010 (Q1) covered only 8 editions out of 12. The total readership reported by IRS was nearly 2 million.

The group has launched 8 new editions of City Plus viz. 2 in Bangalore, 4 in Pune, 1 in Mumbai and 1 in Hyderabad were launched taking the total number of editions to 22 as at 31st March 2010.

Outdoor business has grown by 12.78% despite de-growth in industry and was virtually in profit at operating level in the second half of the year.Jagran Solutions, an event management division of the Company continued to receive recognitions and improve its market position in the industry. The division registered a growth of 76.75% in turnover.

The Company continued to invest in internet properties and commercialized its classified portal khojle.in and a gaming portal jeetle.in. Both the new portals have started generating revenues. Co-branded news portal http://in.jagran.yahoo.com has been progressing impressively and currently have nearly 70 million page views per month with over 1.5 million unique users which make it the largest web portal across all Indian language portals (Source: Source: Vizi Sense).

Proposed Final Dividend of Rs 1.5 per share of face value of Rs. 2 each (75%) , in addition to interim dividend of Rs 2 per share of face value of Rs. 2 (100%) already declared and paid aggregating to total dividend payout of Rs 3.5 per share or 175% on the paid up share capital.

Commenting on the performance of the company for the year ended 31st March 2010, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “I am glad to submit the report card of the Company for the year 2009-10 which has proved to be a milestone year in the history of the Company. Sharp improvement in margins was helped by drop in newsprint prices and growth in revenues. The Company has out performed the industry which is very satisfying and reassures me of the robustness of Indian economy, the potential for growth in our areas of operation and our strategies.

I am confident that with the merger of print business of Mid-Day Multimedia Limited, all the stakeholders of the Company will stand to gain enormously. I am also pretty optimistic about the association with the world’s largest private equity investor Blackstone as it would not only add to the competitive strength of the Company but will also be instrumental in pursuing inorganic growth.”

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