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Delhi, October 30, 2006; Jagran Prakashan Limited (JPL) (BSE
SCRIP ID: JAGRAN; NSE SYMBOL: JAGRAN), publishers of 'Dainik
Jagran', India's largest read newspaper (Source: IRS), has reported
net revenues of Rs. 141.72 crores for Q2FY07, an increase of 25.88
% over the corresponding quarter of the previous year. The net profit
was at Rs 17.54 crores, a sharp increase from Rs 7.46 crores in the
corresponding quarter of previous fiscal. The EPS for the quarter
was at Rs 3.49 as against Rs 1.91 in the corresponding quarter of
FY 06.
Better
advertising and circulation revenues from the publishing business
coupled with the encouraging performance of Out of Home(OOH) and
Event Management activities have contributed to the increased revenues.
In
the publishing business, the advertisement revenue increased by
30.11% to Rs 91.48 crores, which was driven by the increases both
in rates as well as total space sold particularly color space. The
color advertising saw a sharp jump of over 40% from the corresponding
quarter of 2005-06 whereas circulation revenue increased by 8.40%
to Rs.42.70 crores over the said period.
Commenting
on the results, Mr. Mahendra Mohan Gupta, CMD of Jagran Prakashan
Limited said "We are delighted to announce that the company
was successful in achieving more than the expected revenues and
profit in this quarter. During this quarter, the company's businesses
have done well. We have substantially increased our client base
in our OOH and Event Management business."
The
reduction in consumption of imported newsprint led to checking the
increasing newsprint cost. EBITDA for the quarter was significantly
higher by 69.15 % at Rs 29.06 crores.
Jagran
Engage, Out of Home (OOH) advertising division has acquired marketing
rights of various outdoor properties in Kanpur, Pune, Kolkata, Delhi,
Mumbai and Bangalore, the last three being the top three markets
for OOH besides having significant presence in Lucknow. The division
now has pan-India presence.
Jagran
Solutions, an event management arm of JPL saw an impressive client
list including Microsoft, Hutch, Godrej, TVS Motors, ICICI Prudential,
Escorts, Standard Chartered Bank, M&M, Bajaj, TATA Indicom,
HLL etc.
HIGHLIGHTS
OF THE QUARTER
· Dainik Jagran continues to
be No. 1 newspaper in the country in the 7th successive IRS rounds,
once again widening the gap further from its closest competitor(IRS-2006
R 2).
· Launched two editions of City
Plus, an English News-Infotainment weekly newspaper targeting retail
segment of advertisers ,distributed free in booming markets of Noida
and Gurgaon.
· Jagran Prakashan has launched
31st edition in Amritsar and number of copies sold in Punjab is
up by over 54% from Q1.
· Applied for MIB approval for
printing facsimile edition of The Independent in India.
· Achieved high operating margins
primarily due to revenue growth.
· Declaration of Bonus Issue
in the ratio of 1 equity share for 5 existing equity shares to the
shareholders on record date of 3rd November 2006
About
Jagran Prakashan Limited
Jagran Prakashan Limited is a leading media house of India which
publishes Dainik Jagran, India's largest read and highest circulated
daily with a total readership of 18.19 million readers per day (
IRS 2006 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 30 different facilities. 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, a newly created division 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 www.jagran.com
is the most visited Hindi portal in the world. The company provides
IVR/AVR/SMS services through its short code service 7272.
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