Jagran Prakashan Q1: Digital ad revenue up by 24.3%, consolidated ad revenue up by 1.4%
Jagran Prakashan Limited has reported Consolidated Operating Revenues of Rs 602.57 crores, Consolidated Operating Profit of Rs 163.55 crores and Consolidated Net Profit of Rs 88.36 crores for Q1FY19.
Jagran Prakashan Limited (JPL), publishers of Dainik Jagran, has reported Consolidated Operating Revenues of Rs 602.57 crores (growth of 1.9% as compared to Rs 591.33 crores in Q1FY18), Consolidated Operating Profit of Rs 163.55 crores and Consolidated Net Profit (PAT) of Rs 88.36 crores for Q1FY19.
Commenting on the performance of the company, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, “After two consecutive quarters of de-growth, this quarter witnessed some growth in advertisement revenue. We were also able to pass part of increase in newsprint price to the readers in majority of our areas of operation, but there were still some areas where it could not be possible due to the competitors not agreeing to our proposal of increasing cover prices. We expect spike in growth in H2."
"Digital, Outdoor and Radio businesses deserve special mention as these performed incredibly well and cumulatively contributed significantly to the company’s profit. I hope that we will end the current fiscal with the expected growth in profits achieved at the back of higher per copy realisation coupled with high single digit growth in advertisement revenues of print business in addition to double digit growth in the above referred businesses," Gupta added.
"I am also glad that in pursuance of the company’s policy to distribute the surplus cash, buyback of shares worth Rs 292 crores was successfully completed a few days ago and we assure that we will continue with our policy to reward our shareholders,” he said.
In its financial statement, Jagran has shown a consolidated operating revenue of Rs 602 crores, which is up by 1.9% in comparison to the last financial quarter i.e. Q4FY18 when the consolidated operating revenue was Rs 591.33 crores.
While the company’s ad revenue has grown by 1.4%, from Rs 439. 23 crores in Q1FY18 to Rs 445.34; its digital advertisement revenue grew by 24.3%. The digital advertisement revenue grew from Rs 7.69 crores in Q1FY18 to Rs 9.56 crores in present quarter i.e. Q1FY19.
The circulation revenues at Rs 109.69 crores is also up by 1% from Rs 108.60 crores in Q1FY18.
The Group publishes eight newspapers and a magazine in five languages from 38 printing facilities across 13 states .
In addition, through Radio, it has expanded its operations to 39 FM stations and 52 web stations.
Dainik Jagran, the company’s flagship publication, has also shown an increase of 13.5% in its operating revenue. From Rs 352.74 crores in the previous quarter (Q4FY18), the operating revenue went up to Rs 400.46 crore in the current quarter.
The company also claims that under the News & Information Category, Jagran websites got over 40.58 million unique visitors (Comscore Multi-Platform May’18).
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