Annual Results FY08 (all comparisons with FY07)
o Operating Revenues at Rs 749.63 crores, up by 25.32% from Rs 598.18 crores
o Operating Profits at Rs 163.80 crores, up by 36.68 % from Rs 119.84 crores
o PAT at Rs 98.13 crores, up by 28.74% from Rs 76.22 crores
o EPS of Rs 3.26, higher by 28.74% from Rs 2.53
Q4 FY08 Results (all comparisons with Q4 FY07)
o Operating Revenues at Rs 190.01 crores, up by 16.10% from Rs 163.66 crores
o Operating Profits at Rs 30.02 crores, up by 9.67% from Rs 27.37 crores
o PAT at Rs 15.48 crores, down by 14.41 % from Rs 18.09 crores
o EPS (non-annualized) at Rs 0.51 as compared to Rs 0.60
New Delhi, June 30, 2008: Jagran Prakashan Limited (JPL), publishers of 'Dainik Jagran', India's largest read daily (Source: IRS 2008 Round 1), has reported Operating revenues of Rs 749.63 crores for FY08, an increase of 25.32% as compared to Rs 598.18 crores in FY07. Total revenue for the FY08 was Rs.771.10 crores. The net profit was at Rs 98.13 crores, an increase of 28.74% from Rs 76.22 crores in the corresponding period. The EPS for the year was Rs 3.26 as against Rs 2.53 at the end of FY07.
The profits for the last quarter of FY08 were after accounting for losses (net) of Rs.8.48 crores from new newspaper brands and non-publication businesses.
In the last fiscal, JPL saw significant revenue growth from new initiatives (out of home advertising, event management and SMS), which was Rs. 56.02 crores in FY08 as against Rs. 30.78 crores in FY07, an increase of 82% over last year.
The significant developments during the year are:–
(i) Indian Readership Survey 2008 reaffirmed 10th time in a row No.1 status of Dainik Jagran in the country across all languages with a total readership of 56.6 million.
(ii) Six new editions of Dainik Jagran viz. Ayodhya, Raibareilly and Mathura in Uttar Pradesh, Haridwar in Uttarakhand and Patiala and Bhatinda in Punjab were launched.
(iii) I-Next, a compact bilingual daily newspaper targeting at youth, was expanded from 2 to 7 editions till 31st March 2008 and to 9 editions thereafter in the States of UP, Uttarakhand, Bihar and Jharkhand.
(iv) City Plus, a weekly infotainment English newspaper targeting youth, was expanded to 10 editions including 2 editions at Banglore.
(v) Launch of monthly News Magazine ‘Jagran Josh’ in 11 cities of UP having current circulation of 3 lakhs copies with plan to expand in other cities across Jagran’s footprint area.
(vi) The company entered into a joint venture with Television Eighteen India Limited to launch a business paper in Hindi and other Indian languages across the country.
(vii) Equity share of face value of Rs.10 split into equity share of face value of Rs.2 to offer opportunity to small investors to invest in company’s stocks.
(viii) Dividend including proposed final dividend @ 100% of the face value of the equity shares.
The advertisement and circulation revenues grew respectively by 28.48%,(as against industry's overall growth rate of 21%) and 7.08%. The advertisement revenues were driven by the increase in card rate, increased focus on local market and increase of space including color space.
Commenting on the performance of the company in the last fiscal, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said, "The last fiscal was another year of heartening performance in spite of emerging challenges. Inflation and slow down in economy are the concerns but given the faith and confidence of readers and advertisers in us, I am confident that JPL will continue to deliver. I am particularly pleased with the success of initiatives taken by the company in past couple of years to de-risk the business model and capitalize on available opportunities. Like any new business, these businesses will also take some time to reach the operating maturity but I believe that these are going to be significant revenue streams for the company in future”.
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 56.6 million readers per day (IRS 2008 R1). 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. Dainik Jagran is now published in 37 editions across 11 states from 30 different facilities. The company also launched I-next, the first ever bilingual newspaper in the country in December, 2006 now published in 9 editions and also has an English Infotainment paper called City Plus now published in 10 editions. The group publishes 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. The company's portal in association with Yahoo India, www.jagran.yahoo.in is the most visited Hindi news portal in the world. The company provides IVR/AVR/SMS services through its short code service 57272. |
