Jagran Prakashan Operating Profits at Rs 90.17 crores

New Delhi: 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 for Q1FY11 of Rs. 269.82 crores, an increase of 16.36% over the corresponding quarter of the previous year.

The net profit was at Rs. 55.60 crores and the EPS for the quarter was at Rs 1.85, an increase of 12.80% over Q1 of FY 2010. EBIDTA margin (excluding other income) for the quarter was 33.42% as against 30.42% for the corresponding quarter of the last year.

The Company has been investing in the Event, Outdoor and Digital businesses with a view to diversifying and broad basing the growth. In Q1FY11, these businesses continue to show strong traction with revenue growing to Rs. 20.26 crores from Rs. 13.51 crores in Q1FY10, registering an impressive growth of 50%.

Commenting on the performance of the company for the quarter ended 30th June 2010, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said,

“The results for Q1FY11 were more than satisfactory inspite of steep fall in other income in comparison with Q1FY10 which is attributed to non-accrual of exchange fluctuation gain and lower treasury income.

The Company has recorded higher operating margins owing to impressive advertisement revenue growth, an incredible performance of digital, outdoor and event businesses and lower price newsprint inventory carried forward from the previous year.

The economy looks good and all the major businesses of the Company are in good shape and on track to benefit from growing economy. Notwithstanding ongoing cover price war in Jharkhand triggered by the competitors, I am pretty optimistic to live upto your expectations as always.”

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