Jagran Prakashan Q4 net jumps 68% to Rs 36 cr

Newspaper publisher Jagran Prakashan (JP) today posted 68.04 per cent increase in net profit at Rs 36.38 crore for the quarter ended March 31, 2010.

The company had earned a net profit of Rs 21.65 crore in the fourth quarter ended March 31, 2009.

Operating revenue for the quarter stood at Rs 236.28 crore, up 17.41 per cent over the same period previous fiscal, JP said in a filing to the Bombay Stock Exchange (BSE).

For the fiscal ended March 31, 2010, the net profit was up 91.97 per cent to Rs 175.90 crore from Rs 91.63 crore in the previous financial year.

Operating revenue for the fiscal stood at Rs 941.89 crore against Rs 823.37 crore in FY09 it said.

"Sharp improvement in margins was helped by drop in newsprint prices and growth in revenues. The company has outperformed the industry which is very satisfying and reassures me of the robustness of Indian economy," JP Chairman and Managing Director Mahendra Mohan Gupta said.

The company's outdoor business grew 12.78 per cent in 2009-10, while its event management division (Jagran Solutions) registered a growth of 76.75 per cent in turnover, it said.

While circulation revenues stood at Rs 215.59 crore, revenue from advertisement stood at Rs 638.36 crore for the fiscal 2009-10.

Its board has recommended final dividend of Rs 1.5 per equity share of Rs 2 each, in addition to interim dividend of Rs 2 already declared and paid, aggregating to total dividend payout of Rs 3.5 per share on the paid up share capital.