Jagran Prakashan Limited (JPL), publishers of ‘Dainik Jagran’, India’s largest read daily (Source: IRS 2009 Round 1), has reported Operating revenues of Rs 823.37 crores for FY09, an increase of 9.84% as compared to Rs 749.63 crores in FY08. Total revenue for the FY09 was Rs. 846.09 crores, an increase of 9.72% over previous year. The net profit was at Rs 91.63 crores, down by 6.62% from Rs 98.13 crores in the corresponding period. The EPS for the year was Rs 3.04 as against Rs 3.26 for the year FY08.
In FY09, JPL had revenue from its recent initiatives (out of home advertising, event management and SMS), of Rs. 58.45 crores in FY09 as against Rs. 56.01 crores in FY08, an increase of 4.36% over last year.
Commenting on the performance of the company for the year and quarter ended 31st March 2009, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “The performance of the company during the financial year 2008-09 was satisfactory given the global economic slowdown coupled with sky high newsprint prices. However, the outlook continues to be pretty positive for the entire media industry although there is going to be some pressure on revenue in near term. Business friendly government at center which is committed to regain 8% – 9% GDP growth adds to my confidence. There was also a positive in this difficult economic environment as not only we but others also looked at it as an opportunity to control cost and to work out more efficient marketing strategies, that will help in long term. I reiterate our commitment to the cause of every stake-holder of the Company and will not be found wanting”.
Jagran Prakashan Limited is a leading media house of India which publishes Dainik Jagran, India’s largest read daily with a total readership of 54.58 million readers (IRS 2009 R1). It was also voted the most credible and trusted newspaper in India, according to a survey by Globscan, conducted in 10 of the world’s leading countries, including the US, UK, Germany and Russia.