Jagran Prakashan Q2 net profit up by 25.47% to Rs 22 crores

Q2 operating revenues up 23.40% at Rs. 177.17 crores

Declares interim dividend of 50% & recommends subdivision of face value of Equity Share from Rs. 10 to Rs. 2 per share

 

 

New Delhi, October 29, 2007; 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 operating revenues of Rs. 177.17 crore for Q2FY08, an increase of 23.40% over the corresponding quarter of the previous year. The net profit was at Rs 22 crores, a sharp increase of 25.47% from Rs 17.54 crores in the corresponding quarter of previous fiscal. The EPS for the quarter was at Rs 3.65 as against Rs 2.91 in the corresponding quarter of FY 07.

 

Advertising and circulation revenues from the publishing business have registered a robust growth of 24.77% and 8.35% respectively. Increase in advertisement revenue was driven by higher rates and increase in total space sold and increase in circulation revenue was mainly driven by increase in circulation.

 

“Dainik Jagran” becomes yet another time most widely read newspaper of the country - 9^th time in a row with a huge gap from its closest competitor (IRS 2007-R2).

 

I-Next a, newspaper brand launched in third quarter of last fiscal in Kanpur and Lucknow, made a rapid stride in the current quarter both in terms of newspaper sale as well as advertisement revenue. It has expanded the market size and has attained circulation numbers beyond expectations in a short period of time. City Plus, another newspaper brand launched in NCR in second quarter of the previous year, has been expanded to New Delhi and Banglore and has continued to progress well.

 

Out of Home Advertising (OOH) and Event Management activity continued to scale up their operations. J9 a newly created and dedicated arm of JPL to pursue its initiatives in mobile and web space has got stabilised and started generating good revenues, with plans to add a few more services such as classified vertical in web space, to its basket in near future.

 

 

STOCK SPLIT & DIVIDEND

The Board of Directors recommended sub division of equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2/- each. This will increase the number of shares of the company to 30.10 crores from the current 6.02 after the shareholders approval. Further, the Board of Directors has also announced payment of an interim dividend of 50% on equity share of the face value of Rs.10 to existing shareholders.

 

Commenting on the results, Mr. Mahendra Mohan Gupta, CMD of Jagran Prakashan Limited said “We are delighted to announce interim dividend @ Rs 5 per share and Stock split in the ratio 1: 5 for our shareholders. The split will make stock more attractive to a broader investor base.

 

The overall business has continued to progress as planned. We expect significant contributions from our various non-publishing initiatives in top as well as bottom line in times to come with growth momentum remaining intact in publishing business in foreseeable future. The success of I-Next is heartening and demonstrates once again the high credibility and acceptability of the work of the company amongst the readers, hawkers and advertisers alike. We are grateful to all of them to make it success.”

 

HIGHLIGHTS OF THE QUARTER

·         Dainik Jagran continues to be No. 1 newspaper in the country in the 9^th successive IRS rounds, (IRS-2007 R 2).

·         I-Next launched in Meerut and attains critical circulation numbers in Kanpur and Lucknow.

·         City Plus launched in New Delhi (3 editions) and Banglore (1 edition)

·         J9 the mobile VAS division of Jagran Prakashan has launched J9 shop. 

·         Co-branded Hindi news portal jagran.yahoo.in launched in association with Yahoo India.

 

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 www. jagran.com which is in phase of transiting to the co-branded site www.jagran.yahoo.in in association with Yahoo India has enjoyed status of most visited Hindi news portal in the world.

 

For further details, please contact:

Mr. Amit Jaiswal	Kunal Takalkar/Saurabh Saxena
Jagran Prakashan Limited	Adfactors Public Relations
50, Okhla Industrial Estate, Phase – III, New Delhi	D-42, NDSE Part – II New Delhi – 110 049
Mobile Number:- +91 98390 95594	Tel: (+91) 11 41345155/6/7/8