Jagran Prakashan Ltd, publishers of ‘Dainik Jagran’, has recorded a 143.80 per cent jump in net profit to reach Rs 17.70 crore in the quarter ended December 31, 2006. Net revenues were up 29.79 per cent at Rs 163.45 crore in Q3 FY07 over the corresponding quarter of the last fiscal.
Better advertising and circulation revenues from the publishing business have led to increased revenues in this quarter. The out-of-home (OOH) and event management activities of the company have also played an important role in contributing Rs 8.30 crore in the increased revenues.
In the publishing business, the increase in ad rates and total space, particularly colour space sold have led to a 28.53 per cent increase in the advertisement revenue to Rs 103.20 crore, while the circulation revenue increased by 3.63 per cent to Rs 42.73 crore in Q3 FY07.
Commenting on the performance and developments in the company in this quarter Mahendra Mohan Gupta, CMD, Jagran Prakashan Ltd, said, “We have always directed our efforts towards providing quality reading material to our readers and our constant effort is to provide the readers what they want to read. With the launch of I-next and City Plus, we are now in a position to cater to readers across different age groups and categories, both in Hindi and English. The OOH and event management business of the company are also growing, and are well poised to add to the revenues in the coming time.”
Jagran Prakashan Ltd has been concentrating on its current markets and will strengthen its position as more editions will keep maturing. It aims to increase its market share with the launch of I-next and City Plus, and seeks to provide 360-degree marketing solutions under one umbrella through its various business segments.