Jagran reports 15 percent advertising revenue growth in Q3

New Delhi: Jagran Prakashan Limited, publishers of „Dainik Jagran’, India’s largest read newspaper (Source: Indian Readership Survey 2011(Q3)), has reported operating revenues for Q3 FY12 of Rs 324.03 crores, an increase of 13.29% over the corresponding quarter of the previous year.

The net profit was at Rs 41.30 crores, a decrease of 21.54% over Q3 of FY2011 and the EPS for the quarter was at Rs 1.31. EBIDTA margin (excluding other income) for the quarter was 26.27% as against 31.38% for the corresponding quarter in the last year.

The net profit is after accounting for sharp depreciation of rupee resulting in accounting for mark to market exchange fluctuation loss of over Rs. 8.67 crores as against mark to market exchange fluctuation gain of about Rs. 0.30 crore in Q3FY11 (both net of tax).

On like to like basis, profit after tax excluding the impact of exchange fluctuation loss/gain would have been Rs.49.97 crores as against an amount of Rs.52.34 crores for Q3FY11, inspite of steep increase in newsprint prices, increase in circulation, launch of a new brand Punjabi Jagran and higher depreciation during Q3FY12.

Out of this loss of Rs. 8.67 crores, an amount of Rs. 5.67 crores (both net of tax) relates to long term liabilities.

Advertisement revenue during the period grew by 15% approx. which is the highest in the industry. As per IRS 2011 Q3, Dainik Jagran continues to be the largest read daily in the country.

MIDDAY (English) registered a growth of 6.5% in readership on QoQ basis, which was one of the highest amongst all English dailies. MIDDAY (Gujarati) too grew in readership by 17.7% on QoQ basis. Circulation of Dainik Jagran registered a growth of 6.64% in comparison with Q3FY2011.

Circulation of I-Next registered growth of nearly 28% in comparison with Q3FY2011. Number of unique users on all online properties of the Group reached 6.71 million in December 2011(Source: Google AdPlanner).

“Our overall performance in a challenging environment was more than satisfactory. Growth in advertisement revenue and outdoor advertising was outstanding and probably the highest in the industry. However, concern remains for the remaining financial year because macro economic conditions are still not conducive for growth,” Mahendra Mohan Gupta, Chairman and Managing Director, JPL said.

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