Jagran Prakashan Q1 operating revenue up 41.5% at Rs 270.32 crore
Consolidated advertisement revenues from print, digital, and radio stood at Rs 165.64 crore, up by 52.3%
Jagran Prakashan Ltd's (JPL) consolidated operating revenues for the quarter ended 30th June has jumped 41.5% to Rs 270.32 crore from Rs 191.09 crore in the same quarter of the previous fiscal. The company reported expenditure of Rs 264.6 crore for the quarter as against Rs 225.3 crore in the year-ago period.
Consolidated advertisement revenues from print, digital, and radio stood at Rs 165.64 crore, up by 52.3% from Rs 108.78 crores. Circulation revenue came in at Rs 84.37 crore, up by 14% from Rs 74.04 crore. Other operating revenues at Rs 20.31 crore were up by 145.6% from Rs 8.27 crore.
The company posted an operating profit of Rs 5.78 crore as against an operating loss of Rs 34.23 crore. The company's net loss narrowed to Rs 7.19 crore from Rs 44.3 crore.
The company posted an operating profit of Rs 5.78 crore as against an operating loss of Rs 34.23 crore. The company's net loss narrowed to Rs 7.19 crore from Rs 44.3 crore.
Dainik Jagran reported operating profit of Rs 24.31 crore on an operating revenue of Rs 187.19 crore in Q1 FY22. In the previous fiscal, the company posted an operating loss of Rs 5.99 crore on a revenue of Rs 140.07 crore.
The operating revenue from other publications stood at Rs 35.9 crore as against Rs 25.09 crore, while the operating loss narrowed to Rs 4.48 crore from Rs 10.68 crore. The company reported revenue of Rs 12.29 crore and Rs 15.09 crore from digital and outdoor and event segments respectively. While the digital segment saw an operating profit of Rs 1.46 crore, the outdoor and event segment reported an operating loss of Rs 2.32 crore.
Commenting on the performance of the company, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “Results are satisfactory keeping in view the continued weekend lockdown and other similar restrictions. However, the growth numbers do not excite as the base was low. With increase in vaccination and hope that the country will have a sufficient number of vaccinated people by the time the feared the third wave strikes us, the macroeconomy and hence the media and entertainment industry should do better in remaining year than the previous year.
“I am happy to report that all the businesses have maintained and in some cases improved their market share while continuing to add new customers, which bode well for the future. We assure to capitalise on every opportunity the revival of economy offers, but the cost control remains the key to deliver better profits. We are committed to keep cost under check to the extent it does not compromise with the future of business in the long-term. We could, in a period of over 5 months, buy shares worth Rs 102 crores out of Rs 118 crores approved by the Board and since the market prices remain well above the fixed price, the Board has decided to close the buy back.
