Jagran Prakashan Q2 net profit at Rs 50.28 crores

New Delhi/Noida : Jagran Prakashan Limited (JPL) (BSE SCRIP ID: 532705; NSE SYMBOL: JAGRAN), publishers of ‘Dainik Jagran’, India’s largest read newspaper (Source: IRS), has reported operating revenues of Rs. 246.83 crores for Q2FY10, an increase of 18.31 % over the corresponding quarter of the previous year. The net profit was at Rs 50.28 crores and the EPS for the quarter was at Rs 1.67, an increase of 121.51% over Q2 of FY 2009. EBIDTA margin (excluding other income) for the quarter was 33.72% as against 18.21% for the corresponding quarter in the last year.

Advertising revenue from the publishing business has registered a robust growth of 19.45% and circulation revenue has registered a growth of 15.06% over Q2FY09.

In Q2 FY10, revenue from out of home advertising and event management was Rs. 16.99 crores as against Rs. 12.46 crores in Q2 FY 09, an increase of 36.36% over corresponding quarter.

In October 2009, one more edition of City Plus was launched from Vashi, Navi Mumbai, taking total number of editions of City Plus to 18.

Company’s web portal, http://in.jagran.yahoo.com , commonly known as Yahoo! Jagran becomes No. 1 web portal in regional language category with 1.07 million unique users for September 2009. (Source: ViziSense)

Interim Dividend: The company has also announced payment of an interim dividend of Rs.2 per share or 100% on equity shares of face value of Rs.2 each.

Commenting on the performance of the company for the quarter ended 30th September 2009, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said,

“In continuation of Q1, Q2 again registered a robust growth in revenues and profits. There was a sharp increase in advertisement revenue of nearly 20% and in circulation revenue of over 15%. Similarly, growth in outdoor and event businesses was heartening and I expect both these businesses to turn into profit in current fiscal. With Indian economy recovering faster, I am seeing a good time ahead for the company.”

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