Jagran Prakashan Ltd has reported a whopping 120 per cent increase in its net profit for Q2 of FY10 at Rs 50.27. This growth has been led by the nearly 20 per cent growth in ad revenues at Rs 171.6 crore.
A statement issued by the company quoted, Mahendra Mohan Gupta, Chairman, Jagran Prakashan Ltd, as saying that he expected the OOH and events businesses to turn profitable during FY10.
And this was not without a good reason as both the OOH and events businesses showed growth during this quarter. However, total expenditure fell marginally to Rs 176.58 crore.