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FINANCIAL RESULTS
 
JAGRAN PRAKASHAN LIMITED

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/HALF YEAR  ENDED 30TH SEPTEMBER 2008

  

  

  

  

(Rs. In Lacs except per share data)

Sr. No.

Particulars

Quarter ended

Half Year ended

Year ended

30.09.2008

(Unaudited)

30.09.2007

(Unaudited)

30.09.2008

(Unaudited)

30.09.2007

(Unaudited)

31.03.2008 (Audited)

  

  

  

  

  

  

  

1a.

Net Sales/Income from Operations

20419.85

17510.94

40654.25

35668.62

73773.56

1b.

Other Operating Income

442.66

205.90

856.90

390.60

1189.76

1c.

Total

20862.51

17716.84

41511.15

36059.22

74963.32

  

  

  

  

  

  

  

2

Expenditure

  

  

  

  

  

a.

Increase/decrease in stock in trade and work in progress

0.98

(7.94)

2.12

(7.52)

(5.00)

b.

Consumption of raw materials

8608.16

6653.19

15912.77

13035.16

27179.32

c.

Employees Cost

2674.70

2159.39

5220.89

4199.11

9148.14

d.

Depreciation

887.26

830.68

1722.95

1533.27

3359.06

e.

Other expenditure *

5779.36

5011.23

11611.61

9781.73

22260.79

f.

Total

7950.46

14646.55

34470.34

28541.75

61942.31

  

  

  

  

  

  

  

3.

Profit from Operations before Other Income, Interest & Exceptional Items (1-2)

2912.05

3070.29

7040.81

7517.47

13021.01

  

  

  

  

  

  

 

4.

Other Income

547.68

371.73

1177.36

1256.70

2146.93

  

  

  

  

  

  

  

5.

Profit before Interest & Exceptional Items (3+4)

3459.73

3442.02

8218.17

8774.17

15167.94

  

  

  

  

  

  

  

6.

Interest

115.02

144.57

213.50

342.53

598.45

  

  

  

  

  

  

  

7.

Profit after Interest but before Exceptional Items and Prior Period adjustment (5-6)

3344.71

3297.45

                        8004.67

8431.64

       14569.49

  

  

  

  

  

  

  

8.

Exceptional Items and Prior Period adjustment (net)

0.00

(2.04)

0.00

2.14

(5.08)

  

  

  

  

  

  

  

9.

Profit from Ordinary Activities before tax (7-8)

                  3344.71

3299.49

8004.67

8429.50

14574.57

  

  

  

  

  

  

  

10.

Tax Expense

1075.00

1099.00

2570.00

2757.72

4762.00

  

  

  

  

  

  

  

11.

Net Profit for the period after tax (9-10)

2269.71

2200.49

5434.67

5671.78

9812.57

  

  

  

  

  

  

  

12.

Paid-up equity share capital (Par Value of Rs. 2/- each)

6023.41

6023.41

6023.41

6023.41

6023.41

  

  

  

  

  

  

  

13.

Reserves excluding revaluation reserves

  

  

  

  

47852.55

  

  

  

  

  

  

  

14.

Basic and diluted EPS (On Par Value of Rs.2/- each)

0.75

0.73

1.80

1.88

3.26

  

  

  

  

  

  

  

15.

Public shareholding

  

  

  

  

  

-

Number of shares (Par Value of Rs.2/- each)

144272810

144272810

144272810

144272810

144272810

-

Percentage of shareholding

47.90%

47.90%

47.90%

47.90%

47.90%

  

  

  

  

  

  

  

*

Includes:-

  

  

  

  

  

  

(i) Direct Expenses of Outdoor, Event and SMS Services

1218.51

1196.38

2493.17

2194.57

5338.14

  

(ii) Stores and Chemical Consumption

658.01

579.84

1251.36

1140.31

2365.81
Notes:-

 1. The above unaudited financial results were reviewed by the Audit Committee and taken on record by the Board of Directors at their meeting held on October 23, 2008. These are subject to limited review by the Statutory Auditors.

2. The Company is engaged primarily in printing and publication of Newspaper and Magazines in India. The other activities of the Company comprise of outdoor advertising, event management services and SMS services.  However, these in the context of the Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India are considered to constitute one single reportable segment.

3. There is no qualification of Auditors except the one regarding amortization of the Title-Dainik Jagran (“the Title”) as contained in previous year’s audit report.

 Expert Advisory Committee of the Institute of Chartered Accountants of India (ICAI) in response to the Company’s query has opined that the value of the Title should be amortised in terms of Accounting Standard 26 over a period of useful economic life. However, the value has not been amortised keeping in view the fact that adoption of International Financial Reporting Standards (IFRS) has been accepted by the Council of ICAI from the accounting period beginning on or after April 1, 2011 and accordingly, the Company will not be required to amortise the Title and may be required to reinstate the same post migration.

4. Number of investor complaints/queries outstanding at the beginning of the quarter was 1, number of complaints/queries received was 26, disposed off during the quarter was 27 and outstanding number of complaints/queries at the end of the quarter was NIL.

5. Utilisation of IPO Proceeds: Out of unspent amount of Rs. 93.00 Crores, an amount of Rs. 50.49 crores has been spent in terms of the Objects of the issue and remaining balance Rs. 42.51 crores is temporarily invested/ deposited as indicated in the Prospectus.

6. Figures are re-grouped/re-cast, wherever necessary to make them comparable.

                                                                                                             
(Mahendra Mohan Gupta)
Chairman & Managing Director
Date: October 23, 2008
Place: Kanpur
  
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