Jagran Prakashan posts Rs 588.28 crore operations revenue in Q1
The company reported a consolidated profit after tax of Rs 65.75 crore
Published - Aug 1, 2019 8:53 AM Updated: Aug 1, 2019 8:53 AM
Jagran Prakashan, publishers of the Hindi daily Dainik Jagran, has reported a 25.58 per cent decline in consolidated profit after tax to Rs 65.75 crore for the first quarter ended June 2019.
The company had posted a profit after tax of Rs 88.35 crore during the April-June quarter last year, Jagran Prakashan Ltd (JPL) said in a BSE filing.
Its revenue from operations fell 3.15 per cent to Rs 588.28 crore during the quarter under review as against Rs 607.46 crore in the corresponding quarter a year ago.
"Economic headwinds continued causing increased stress on consumption and in consequence on advertising spend by the advertisers," Mahendra Mohan Gupta, JPL Chairman and Managing Director, was quoted as saying. "Auto industry, being one of the largest advertisers, recorded the highest degrowth in their sales since 1995. Similarly, revenues from election were also far below the expectations and could not compensate the loss of revenue from auto sector and government."
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