Jagran Prakashan Limited (JPL) , publishers of ‘Dainik Jagran’, India’s largest read newspaper (Source: IRS), has reported net revenues of Rs. 141.72 crores for Q2FY07, an increase of 25.88 % over the corresponding quarter of the previous year.
The net profit was at Rs 17.54 crores, a sharp increase from Rs 7.46 crores in the corresponding quarter of previous fiscal. The EPS for the quarter was at Rs 3.49 as against Rs 1.91 in the corresponding quarter of FY 06. Better advertising and circulation revenues from the publishing business coupled with the encouraging performance of Out of Home(OOH) and Event Management activities have contributed to the increased revenues.
In the publishing business, the advertisement revenue increased by 30.11% to Rs 91.48 crores, which was driven by the increases both in rates as well as total space sold particularly color space. The color advertising saw a sharp jump of over 40% from the corresponding quarter of 2005-06 whereas circulation revenue increased by 8.40% to Rs.42.70 crores over the said period.
“We are delighted to announce that the company was successful in achieving more than the expected revenues and profit in this quarter. During this quarter, the company’s businesses have done well. We have substantially increased our client base in our OOH and Event Management business.” Mahendra Mohan Gupta, CMD of Jagran Prakashan Limited said .
The reduction in consumption of imported newsprint led to checking the increasing newsprint cost. EBITDA for the quarter was significantly higher by 69.15 % at Rs 29.06 crores.
Jagran Engage, Out of Home (OOH) advertising division has acquired marketing rights of various outdoor properties in Kanpur, Pune, Kolkata, Delhi, Mumbai and Bangalore, the last three being the top three markets for OOH besides having significant presence in Lucknow. The division now has pan-India presence.
Jagran Solutions, an event management arm of JPL saw an impressive client list including Microsoft, Hutch, Godrej, TVS Motors, ICICI Prudential, Escorts, Standard Chartered Bank, M&M, Bajaj, TATA Indicom, HLL etc.