Jagran Prakashan Q1 revenues at Rs.231.87 crores

Jagran Prakashan Limited has reported operating revenues of Rs. 231.87 crores for Q1FY10, an increase of 12.29% as compared to Rs. 206.49 crores in Q1FY09. Total revenues and net profit for the Q1FY10 was Rs. 247.54 crores and Rs. 49.51 crores respectively. The non-annualized EPS for the quarter stood at Rs. 1.64.

The advertisement revenue increased to Rs. 160.92 crores from Rs. 140 crores registering growth of 14.94% over the same period. Circulation revenue increased to Rs. 54.52 crores from Rs. 47.79 crores, increase of 14.09% over Q1FY09. Newspaper sales of Dainik Jagran in terms of number of copies sold per day was also higher by 3.48%.

The revenues from other operating activities including revenues from Outdoor Advertising, Event Management Activity and Short Code Services was Rs. 13.42 crores as compared to Rs. 14.55 crores in corresponding quarter of the previous year.

Commenting on the performance of the company for the quarter ended 30th June 2009, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “The quarter was very heartening as it posted the highest profit in the history of the Company. The Company benefited from higher than expected growth in the advertisement revenue, low newsprint prices and continuing control-over other costs. There is a greater degree of certainty on the front of revenue, reiterating our confidence in Indian economy in general and our areas of operation in particular, which will result in much improved performance over the previous financial year.”

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