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Jagran Prakashan Q1 FY2007 revenues up 20 pc at Rs 136.67 crore

Jagran Prakashan Q1 FY2007 revenues up 20 pc at Rs 136.67 crore

Author | exchange4media News Service | Monday, Jul 31,2006 7:47 AM

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Jagran Prakashan Q1 FY2007 revenues up 20 pc at Rs 136.67 crore

Jagran Prakashan Ltd, publishers of ‘Dainik Jagran’, has reported net revenues of Rs 136.67 crore for Q1 FY07, an increase of 20 per cent over the corresponding quarter last year. The net profit was at Rs 22.89 crore FY2006-07, a sharp increase from Rs 4.29 crore in the previous fiscal. The EPS for the quarter was at Rs 4.56 as against Rs 1.13 in the corresponding previous quarter.

The board of directors has recommended one bonus share for every five shares held by the equity shareholders, subject to their approval in the AGM. The board has also recommended appointment of PricewaterhouseCoopers as the statutory auditors of Jagran Prakashan.

The increase in revenues was contributed by better advertising revenues and higher per copy realisation. The advertisement revenue increased by 20 per cent to Rs 89.51 crore, which was driven by increase in local as well as colour advertising. Colour advertising saw a sharp jump of 22.1 per cent over the corresponding previous quarter. The increase in advertisement tariff has contributed a growth of nearly 10 per cent over the corresponding quarter of the last fiscal. The per copy realisation witnessed increase of 14.05 per cent over the corresponding previous quarter.

The optimisation of consumption between imported and indigenous newsprint led to significant cost savings. EBITDA for the quarter was significantly higher by 172 per cent at Rs 34.43 crore. The operating margin for Q1 FY07 was 25 per cent, while the net margin was 17 per cent.

The out of home (OOH) advertising division of Jagran Prakashan saw establishment of additional infrastructure growing to 11 offices and 40 people needed to cater to a pan India clientele. The division has invested significantly in taking properties on short / medium term leases, revenue from which would start flowing from the current quarter. In Q1 FY07, the division recorded revenues of over Rs 90 lakh with an impressive client list including TVS, Apollo, REL, Titan, Microsoft, Café Coffee Day, Ansals, ABN Amro, and Aircel, among others.

Jagran Solutions, an event management arm of Jagran Prakashan, also added an impressive client list including Microsoft, Hutch, Godrej, TVS Motors, ICICI Pru, Escorts, Standard Chartered Bank, M&M, Bajaj, TATA Indicom, HLL, etc.

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