Jagran Prakashan revenues Up by 27.95%

Jagran Prakashan Limited (JPL) has reported total revenues of Rs 622.98 crore for FY07, an increase of 27.95% as compared to Rs 486.88 crore in FY06. The net profit was at Rs 76.22 crore, an increase of 140.45% from Rs 31.70 crore in the corresponding period. The EPS for the year was Rs 12.65 as against Rs 6.23 at the end of FY06.

The performance of the company in the last quarter of FY07 was commendable with total revenues increasing by 29.71% to Rs 170.25 crore as compared to Rs 131.25 crore in Q4 FY06. EBIDTA and net profit increased by 28.58% and 42.53% to Rs 33.96 crore and Rs 18.09 crore respectively in the quarter ended March 31, 2007.

In the last fiscal, JPL saw significant revenues from out of home advertising and event management activities, which was over Rs.30 crores.

During the year, (i) Two new brands viz. I-Next, a bilingual daily newspaper and City Plus, a weekly infotainment newspaper, both targeting at youth, were launched (ii) An alliance agreement was entered into with Yahoo India. Yahoo India would be responsible to host, maintain and market the website on revenue sharing basis and (iii) A separate profit centre named ‘J9’ was created to take the Short Code Service division of JPL to a higher level.

Apart from these new initiatives, the flagship brand of the company, Dainik Jagran, continued strengthening its leadership position in its areas of operation and also ventured into new territories (Indore, Siliguri, Amritsar). The advertisement and circulation revenues continued to increase with advertisement revenues at Rs 388.21 crores and circulation revenue at Rs 170.83 crores for the year. The advertisement revenue for Dainik Jagran grew by 25.70%, higher than the industry’s overall growth rate of 22.8%. The advertisement revenues were driven by the increase in card rate, increased focus on local market and increase of about 18% in color advertisement space. This year also saw IRS 2007 (Round 1) reaffirming Dainik Jagran’s position as the No. 1 newspaper in the country.

Commenting on the performance of the company in the last fiscal, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “In the last fiscal, we have taken steps to expand our product and services portfolio and now JPL has presence in all media genres viz print media, out of home advertising and event management and the new emerging media. Being a 360 degree media house, we have become one of the most diversified media player providing complete media solutions to all the clients, while maintaining our primary focus towards maintaining our credibility in giving detailed, accurate and up-to-date news to our readers”.

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