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Jagran standalone Q4 net up 51%

MUMBAI: Jagran Prakashan (Jagran), publisher of leading Hindi daily newspaper Dainik Jagran, has  reported an increase of 51.10 per cent in standalone net profit to Rs 58.16 crore (Rs 581.6 million) for the quarter ended 31 March 2014.

Total income on standalone basis stood at Rs 391.51 crore (Rs 3.9 billion) during the quarter under review as against Rs 342.84 crore (Rs 3.4 billion) in the year-ago period.

Consolidated net profit for the financial year 2013-14 decreased to Rs 226.15 crore (Rs 2.3 billion)from Rs 255.08 crore in the previous fiscal.

Its consolidated total income for the year increased to Rs 1,702.73 crore (Rs 17 billion) from Rs 1,521.79 crore (Rs 15.2 billion) in 2012-13.

“In continuation of Q3 FY14, Q4 FY14 once again witnessed a steep growth of 17 per cent in advertisement revenue with further improvement in per copy realisation. On cost front, we continued to keep check. However, increase in newsprint prices partially due to depreciating rupee was unexpected and it lowered the operating margins by 3 per cent,” Jagran Prakashan CMD MM Gupta said.

Its advertising revenue on standalone basis was Rs 264.74 crore (Rs 2.6 billion) in the quarter under review, up 16.31 per cent from 227.62 crore (Rs 2.3 billion) of the fourth quarter of last fiscal.

On the future outlook, Gupta said that almost all businesses under investment phase have given improved performance and would improve further.

“In particular, Naidunia and Digital performed incredibly and strengthened their respective market positions,” he added.

Shares of Jagran Prakashan today closed at Rs 115 on the BSE, up 2.18 per cent from its previous close.