Jagran Prakashan Ltd (JPL), publishers of Dainik Jagran, has reported net profit at Rs 34.71 crore for Q1FY07-08, an increase of 51.62 per cent from Rs 22.89 crore in the corresponding period of 2006-07. Advertisement revenues were at Rs 126.74 crore, up by 42.05 per cent from Rs 89.22 crore, while total revenues were at Rs 192.27 crore for Q1FY08, an increase of 34.69 per cent as compared to Rs 142.75 crore in Q1FY07. The non-annualised EPS for the quarter stood at Rs 5.76.
Commenting on the performance of the company in the last fiscal, Mahendra Mohan Gupta, Chairman and Managing Director, JPL, said, “We dedicated our efforts towards strengthening Dainik Jagran and various other initiatives. While Jagran Engage and Jagran Solutions have already attained a critical mass, other activities are ready to take off now. We are pretty positive about the future of media industry in general and business in particular.”
The increase in the total space sold, effect of advertisement rate hike in March 2007, and increase in the colour space sold contributed to the same. While the total space sold increased by 21 per cent, there was a 24 per cent increase in the colour space sold. The copies sold per day were higher by 10.86 per cent.
The revenue from businesses other than publication increased significantly and contributed to the company’s growth. The revenue from these activities was Rs 11.49 crore with a contribution of 6.26 per cent, as against 2.99 per cent in total operating revenue.