Jagran Prakashan Ltd, publishers of Dainik Jagran, has reported operating revenues of Rs 269.82 crore for Q1 FY11, an increase of 16.36 per cent over the corresponding quarter of the previous year. The net profit stood at Rs 55.60 crore, while the EPS for the quarter was at Rs 1.85, an increase of 12.80 per cent over Q1 of FY10.
The company has been investing in the Event, Outdoor and Digital businesses with a view to diversifying and broad basing the growth. In Q1 FY11, these businesses continue to show strong traction with revenue growing to Rs 20.26 crore from Rs 13.51 crore in Q1 FY10, registering a growth of 50 per cent.
Commenting on the performance of the company for the quarter ended June 30, 2010, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “The results for Q1 FY11 were more than satisfactory despite steep fall in other income in comparison with Q1 FY10, which is attributed to non-accrual of exchange fluctuation gain and lower treasury income. The company has recorded higher operating margins owing to impressive advertisement revenue growth, an incredible performance of digital, outdoor and event businesses and lower price newsprint inventory carried forward from the previous year. Notwithstanding the ongoing cover price war in Jharkhand triggered by the competitors, I am pretty optimistic to live up to the expectations as always.”