Jagran Prakashan reports consolidated revenue of Rs 402.61 cr in Q3
Advertisement revenue declined to Rs 292.67 crore as against Rs 403.29 crore
Jagran Prakashan Limited (JPL), publishers of ‘Dainik Jagran’, has reported consolidated operating revenue at Rs 402.61 crore for the quarter ended 31st December, 2020 as against Rs 552.98 crore in the same quarter of the previous fiscal amid drop in ad and circulation revenue.
Advertisement revenue declined to Rs 292.67 crore as against Rs 403.29 crore. Similarly, circulation revenue dropped to Rs 84.27 crore from Rs 107.47 crore. Other operating revenue stood at Rs 25.66 crore as against Rs 42.22 crore. Print digital revenue came in at Rs 14.29 crore, up by 21.8% from Rs 11.73 crore.
The company posted operating profit at Rs 129.32 crore as against Rs 147.13 crore. Net profit stood at Rs 77.08 crore as against Rs 80.48 crore.
Dainik Jagran posted operating profit of Rs 112.51 crore on an operating revenue of Rs 274.26 crore compared to an EBITDA and operating revenue of Rs 112.99 crore and Rs 361.37 respectively in Q3 FY20. Other publications (Mid-Day, Naidunia, I-Next, Punjabi Jagran, Inquilab-North & Sakhi) posted operating revenue of Rs 54.03 crore compared to Rs 82.61 crore. The operating profit stood at Rs 12.33 crore as against Rs 9.18 crore a year ago.
The radio business reported operating revenue of Rs 40.67 crore compared to Rs 69.64 crore in Q3 FY20. The operating profit nosedived to Rs 4.16 crore from Rs 21.56 crore. Digital segment operating revenue stood at Rs 14.29 crore compared to Rs 11.73 crore. The operating profit jumped to Rs 3.77 crore from Rs 2.11 crore.
The company reported operating loss of Rs 3.92 crore from the outdoor and event segment compared to a profit of Rs 1.73 crore. Operating revenue was down at Rs 20.12 crore from Rs 33.06 crore.
Commenting on the performance of the Company, JPL CMD Mahendra Mohan Gupta said, “When India is nearing Corona free times, I have no doubt in my mind that normalcy in every walk of life will return sooner than later. I also hope that after this unprecedented health crisis is largely overcome and the growth oriented budget is in place, the consumption will accelerate and the suffering of the businesses will be over.
"During these crisis times, I have clearly experienced the tremendous resilience of print media and its employees who worked hard to keep the head afloat and discharge their collective responsibility successfully towards its readers and all other stakeholders. In fact, print media has come out of the crisis much stronger than ever before on the strength of its ability to provide original and credible content despite impediments such as rumour based restrictions on distribution of newspaper.
"I am also pleased to report that the print and radio industries both have been embraced by new advertisers. These advertisers are welcome addition to our already large bouquet of advertisers and will immensely help in reaching pre-covid level revenues faster. While sounding optimistic, I am aware that media & entertainment industry rebounds only with a lag from the industries which it is dependent on and therefore we should not expect any miracle but we are confident that we will do as well as the economy. In the end, I wish that the industry will not forget the lessons learnt during these difficult times and use the experience to strengthen its business model which can better sustain loss of revenue and is more prepared to face crisis.”
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