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FINANCIAL RESULTS

JAGRAN PRAKASHAN LIMITED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/NINE MONTHS ENDED 31^ST DECEMBER 2008
				(Rs. In Lacs except per share data)
Sr. No.	Particulars	Quarter ended		Nine Months ended				Year ended
		31.12.2008 (Unaudited)	31.12.2007 (Unaudited)	31.12.2008 (Unaudited)		31.12.2007 (Unaudited)		31.03.2008 (Audited)

1a.	Net Sales/Income from Operations	20315.28	19569.75		60969.53		55238.37		73773.56
1b.	Other Operating Income	385.65	333.05		1242.55		723.65		1189.76
1c.	Total	20700.93	19902.8 0		62212.08		55962.02		74963.32

2	Expenditure
a.	Increase/decrease in stock in trade and work in progress	1.41	(6.46)		3.53		(13.98)		(5.00)
b.	Consumption of raw materials	8792.40	7191.89		24705.17		20227.05		27179.32
c.	Employees Cost	2798.49	2407.59		8019.38		6606.71		9148.14
d.	Depreciation	983.42	890.22		2706.37		2423.49		3359.06
e.	Other expenditure *	6102.05	5982.71		17713.66		15764.44		22260.79
f.	Total	18677.77	16465.9 5		53148.11		45007.7 1		61942.31

3.	Profit from Operations before Other Income, Interest & Exceptional Items (1-2)	2023.16	3436.85		9063.97		10954.31		13021.01

4.	Other Income	449.56	564.14		1626.92		1820.84		2146.93

5.	Profit before Interest & Exceptional Items (3+4)	2472.72	4000.99		10690.89		12775.15		15167.94

6.	Interest	179.11	142.88		392.61		485.41		598.45

7.	Profit after Interest but before Exceptional Items and Prior Period adjustment (5-6)	2293.61	3858.11		10298.28		12289.74		14569.49

8.	Exceptional Items and Prior Period adjustment (net)		(2.49)				(0.35)		(5.08)

9.	Profit from Ordinary Activities before tax (7-8)	2293.61	3860.60		10298.28		12290.09		14574.57

10.	Tax Expense	747.00	1268.10		3317.00		4025.82		4762.00

11.	Net Profit for the period after tax (9-10)	1546.61	2592.50		6981.28		8264.27		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)	0.52	0.86		2.32		2.74		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	1540.73	1520.33		4033.90		3714.90		5338.14
	(ii) Stores and Chemical Consumption	591.74	617.18		1843.10		1757.49		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 January 28, 2009. 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 NIL, number of complaints/queries received was 21, disposed off during the quarter was 21 and outstanding number of complaints/queries at the end of the quarter was NIL.

5. Utilisation of IPO Proceeds: During the quarter, unspent amount of Rs. 42.51 Crores has been fully utilized in terms of the objects of the issue. Details of utilization of IPO proceeds are as under:

		(Rs. In Lacs)
Objects of the issue	Estimated amount as per Prospectus	Amount Spent

1. Capital Expenditure	13716.90	20585.87
2. Acquisition and investments	8000.00	102.50
3. Expansion of outdoor advertising business	4000.00	3253.36
4. Augmentation of working Capital	4000.00	3087.64
5. General corporate purposes	47.70	2896.76
6. Issue Expenses	2360.30	2198.77

Total	32124.90	32124.90

6. None of the shares of Promoters and Promoter Group is pledged or encumbered in any manner.

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

By the Order of the Board

For Jagran Prakashan Limited

(Mahendra Mohan Gupta)

Chairman & Managing Director

Date: January 28, 2009

Place: Noida

Expenditure