Jagran Prakashan Ltd (JPL) has reported standalone net profit of Rs 205.83 crore in FY11, up 17.01 per cent from the FY10 figure of Rs 175.90 crore. The media company’s FY11 standalone operating revenues stood at Rs 1115.32 crore as against Rs 941.89 crore in FY10, an increase of 18.41 per cent.
Standalone advertisement revenues were up 20.07 per cent from Rs 638.36 crore in FY10 to Rs 766.48 crore in FY11.
This is the first time Jagran is presenting the consolidated results after the acquisition of Mid Day Infomedia Ltd in April 2010. During the year, Mid Day Infomedia recorded a growth of 7.60 per cent in operating revenues from Rs 98.99 crore to Rs 106.52 crore. The advertisement revenue (including growth in digital revenue of 208 per cent) stood at Rs 87.51 crore, up 6.97 per cent from Rs 81.81 crore.
EBIDTA margin (excluding other income) for the year is 30.68 per cent against 29.97 per cent for the previous year.
Commenting on the performance, in a prepared statement, Mahendra Mohan Gupta, Chairman and MD, JPL, said, “Notwithstanding unexpected increase in newsprint prices, significant circulation revenue loss due to drop in cover price in Jharkhand and nearly 33 per cent fall in other income due to lower exchange fluctuation gain, the company improved its operating margin, net margin and return on net worth.”
He further said, “Both outdoor and event businesses reported profit, but we recognise that they have long way to go in terms of matching margins with print margins. Similarly, operations of subsidiary Mid Day Infomedia Ltd, were satisfactory, but their profits were significantly impacted because of a one-time adjustment carried out to bring their policies in line with JPL’s policies.”