Jagran Prakashan Q4 consolidated revenue up 4.5% to Rs 424.59 crore

Jagran Prakashan Limited (JPL), publishers of ‘Dainik Jagran’, has reported an increase of 4.5% in consolidated operating revenue at Rs 424.59 crore for the quarter ended March 31, 2022, against Rs 406.38 crore for the same quarter last year.  

The group’s advertising revenue stood at Rs 298.10 crore, up by 3% from Rs 289.48 crore for the same quarter last year. Meanwhile, the circulation revenue stood at Rs 89.76 crore, up by 3% from Rs 87.14 crores.

The network posted an increase of 20.4% in print digital revenue, at Rs 15.68 crors from Rs 13.02 crors. The Net Profit stood at Rs 52.73 crore, up by 48.3% from Rs 35.56 crore.

Commenting on the performance of the company, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “I am glad to report a strong recovery in revenues and profits despite pandemic hit Q1 and high inflation. Legacy of our brands and our ability to deliver against all odds give me confidence that the Group will continue to grow its revenues regardless of the new challenges that may emerge in a highly volatile and uncertain global environment.”

He further added that the print industry stays strong and continues to be the growth driver for them. Not only the readers but advertisers have also come back, said Gupta. “Difficult times coupled with the inflationary pressure have made us all wiser in past two years and the industry has moved towards correcting cover prices and controlling costs through improving efficiency in all areas of operation. I hope that this trend will continue and the business model of the print industry will become more sustainable and predictable in times to come. Digital, as we see, is an integral part of our businesses.”

According to Gupta, the group’s digital business, unlike most of the digital businesses operating in India, is profitable. “Our strategy, data-based approach, and prudent investment over the years, I believe, are the key differentiators. The Group is attracting global giants and striking relationships which is enhancing our capabilities besides giving us revenues.” 

Talking about the Radio, Gupta mentioned that it has also staged a strong comeback reporting operating and cash profits as against the losses in the previous year. “This is the business which has been highly innovative in terms of its offerings, efforts to get new advertisers, and leveraging the strength of its brand. Radio-digital strategy augurs well for them and gives impetus to growth.” 

The outdoor business reported revenue growth of 81% and the event business had a growth of 55%, both reporting profits against losses in the previous year. “These businesses being heavily dependent on free movement of people were expected to recover from pandemic blow much later.”

He also added that the Group has strong liquidity of Rs. 1000 crore to meet any contingency, pursue any growth opportunity, and reward the shareholders in line with its philosophy of surplus cash at the earliest.