Jagran Prakashan Ltd has reported a 10.58 per cent drop in its Q1 FY12 net profit at Rs 49.72 crore, from Rs 55.60 crore in the corresponding quarter of the previous fiscal. On the other hand, operating revenues for Q1 FY12 stood at Rs 304.65 crore, up 12.91 per cent from Rs 269.82 crore in Q1 FY11.
Meanwhile, there was growth in both advertisement and circulation revenues. While advertisement revenues were up 7.65 per cent at Rs 204.27 crore, circulation revenues saw a growth of 5.23 per cent at Rs 58.20 crore.
Commenting on the company’s Q1 FY12 performance, Mahendra Mohan Gupta, Jagran Prakashan Ltd, said, “The company performed satisfactorily in competitive environment. It registered high growth in circulation of all the six print brands of the Group. Other businesses, especially activation too performed incredibly. However, growth in advertisement was subdued due to slowdown in national advertising, lower than expected growth in education sector and strategic decision not to offer steep discounts as desired by a few advertisers.”