Jagran Prakashan Q4 net drops to Rs 62.75 cr
MUMBAI: Jagran Prakashan’s net profit for the quarter ended 31 March has dropped to Rs 62.75 crore as against Rs 81.08 crore in the corresponding quarter of the previous fiscal.
Operating Profit was down at Rs 120.41 crore as against Rs 144.07 crores.
Operating revenues saw a decrease at Rs 548.03 crore as against Rs 562.04 crore. Ad revenue fell to Rs 397.44 crore as against Rs 409.35 crore, which includes print, radio and digital. Circulation revenue saw a marginal dip at Rs 107.36 crore as against Rs 110.23 crore.
Other operating revenue was up 1.8% at Rs 43.23 crore from Rs 42.45 crores. Digital ad revenue increased 1.3% at Rs 9.33 crore from Rs 9.21 crore.
The net profit for fiscal was down at Rs 310.94 crore as against Rs 349.26 crore. Operating Profit at Rs 583.15 crore as against Rs 639.55 crore including Rs. 3.70 crore being one time gain.
Operating revenue was up by 0.9% at Rs 2303.98 crore from Rs 2282.95 crore. Ad revenue increased 0.6% at Rs 1697.22 crore from Rs 1686.59 crore. Circulation revenues came in at Rs 432.55 crore from Rs 432.54 crore.
Other operating revenues was at Rs 174.21 crore, up by 6.3% from Rs 163.82 crore. Digital ad revenue was up 15.7% at Rs 33.33 crore from Rs 28.81 crore.
Commenting on the performance of the company, Jagran Prakashan CMD Mahendra Mohan Gupta said, “The operating performance of all the businesses was satisfactory. The year 2017-18 further cemented the market position of Dainik Jagran which augurs well for future and will help capitalise on the huge potential when the economy fully picks up. Radio, Outdoor and Digital all three did remarkably well even financially and posted good growth in revenue. Radio also
delivered better than expected margins. However, the main business of print reported lower revenues and lower profits for the reasons beyond our control , in-spite of satisfactory operating performance as well as cost efficiencies.
“Overall environment may impact the numbers and may not give the desired results in short term but fundamentals remain strong and I am confident about bright future of all the businesses of the Group. Continuing with the philosophy of rewarding the shareholders, the Board has proposed buyback worth Rs.293 crores @ Rs.195 per share and dividend of Rs.89 crores @ Rs.3 per share.”
Jagran Prakashan Limited is a media conglomerate with interests spanning across printing and publication of newspapers & magazines, FM Radio, Digital, Outdoor Advertising and Promotional marketing / Event management / on ground activation businesses.
The Group publishes 8 newspapers and a magazine from 37 different printing facilities across 13 states in 5 different languages. In addition, through Radio, it has expanded its operations to 39 FM stations and 48 web stations.