| New
Delhi, January 29, 2008; Jagran Prakashan Limited (JPL) (BSE SCRIP
ID: 532705; NSE SYMBOL: JAGRAN), publishers of 'Dainik Jagran', India's
largest read newspaper (Source: IRS), has reported net operating revenues
of Rs. 199.03 crore for Q3FY08, an increase of 28.77% over the corresponding
quarter of the previous year. The net profit was at Rs 25.93 crores,
a sharp increase of 46.47% from Rs 17.70 crores in the corresponding
quarter of previous fiscal. The EPS on face value of Rs. 2 each for
the quarter was at Rs 0.86 as against Rs 0.59 in the corresponding
quarter of FY 07.
Advertising
and circulation revenues from the publishing business have registered
a robust growth of 29.03% and 11.33% respectively. Increase in advertisement
revenue was driven by increase in total space including color space
and also better rates whereas increase in circulation revenue was
mainly driven by increase in circulation of Dainik Jagran .
I-Next
a, newspaper brand launched in third quarter of last fiscal, was
expanded to other markets viz. Varanasi, Allahabad and Agra during
the current quarter, After "Dainik Jagran", I-Next has
become the most Circulated newspaper ahead of other mainline dailies
in the cities of Kanpur and Varansi. It has expanded the market
size and has attained circulation numbers and positioning beyond
expectations in a short period of time. City Plus, another newspaper
brand launched in NCR in second quarter of the previous year, was
further expanded with launch of editions at two more locations of
New Delhi.
Out
of Home Advertising (OOH) and Event Management activity continued
to scale up their operations. J9, a dedicated arm of JPL to pursue
its initiatives in mobile and web space has launched home shopping,
with plans to add a few more services such as classified vertical
in web space, to its basket in near future.
Commenting
on the results, Mr. Mahendra Mohan Gupta, CMD of Jagran Prakashan
Limited said
Whereas
growth in revenues from Dainik Jagran continues as expected, the
most pleasing is increasing acceptability and popularity of I-Next
and its attaining status of no. 2 newspaper in cities of Kanpur
and Varanasi in a short span of time which augurs well for long
term growth of publication business.
Outlook
for all the businesses of the company remains pretty positive and
the trend of growth looks intact. However, profits might experience
some pressure in short term owing to increasing newsprint cost,
intensifying competition and new launches of I-next and City Plus.
STOCK
SPLIT & DIVIDEND
The
Interim dividend @ Rs. 5 per equity share of Rs. 10 each as declared
by the Board in last quarter has since been paid. Similarly, the
Equity shares of Rs. 10 each have been sub-divided in to Equity
shares of Rs. 2 each, in terms of shareholders' approval.
HIGHLIGHTS
OF THE QUARTER
= I-Next launched in Varanasi, Allahabad
and Agra and attains status of No.2 newspaper in cities of Kanpur
and Varanasi and critical circulation numbers much beyond the expectations
in other cities where too it is fast approaching to acquire status
of No.2 newspaper.
=2 more editions of City Plus launched
in New Delhi.
= Joint venture Agreement with Television
Eighteen signed to launch business newspaper in Hindi and other
regional languages.
About
Jagran Prakashan Limited
Jagran Prakashan Limited is a leading media house of India which
publishes Dainik Jagran, India's largest read daily with a total
readership of 536 lakh readers (IRS 2007 R2). It was also voted
the most credible and trusted newspaper in India, according to a
survey by Globscan, conducted in 10 of the world's leading countries,
including the US, UK, Germany and Russia.
Established
in 1942, Dainik Jagran was the brainchild of the Indian Freedom
fighter, Late Shri Puran Chandra Gupta. The first edition was launched
from Jhansi, Uttar Pradesh in 1942. Dainik Jagran is now published
in 31 editions across 11 states from 29 different facilities. The
company also publishes two more youth oriented newspaper brands
viz. I-Next a daily bilingual compact and City Plus an English infotainment
weekly compact, besides publication of Sakhi, a monthly magazine
targeted at women. The group also publishes Jagran Varshiki, an
annual general knowledge digest, and various national and state
statistical compilations.
Jagran
Engage provides specialized 'Out of Home' advertising services with
a pan India footprint. Jagran Solutions provides below the line
activities like promotional marketing, event management and on ground
activities having pan India presence. J9 provides IVR/AVR/SMS services
through its short code service 57272 and is into web space and the
company's Hindi news portal which is known as in.jagran.yahoo.com
|
