Jagran Prakashan issues commercial paper worth Rs 30 cr
Jagran Prakashan on Friday (4 December) said it allotted 600 units of commercial paper (CP) of Rs 5 lakh each, aggregating to Rs 30 crore, against earmarking of working capital.
The CP was allotted to ICICI Prudential Ultra Short Term Fund (MIP5). It offers interest rate of 4.10% and will mature on 4 March 2021. The instrument is rated CRISIL A1+.
Jagran Prakashan is a media and communications company with interests in print, digital, radio, out-of-home (OOH) and activation.
On a consolidated basis, the company's net profit slumped 89.4% to Rs 12.91 crore on a 43.8% fall in net sales to Rs 289.11 crore in Q2 September 2020 over Q2 September 2019.
Shares of Jagran Prakashan fell 0.6% at Rs 41.5 on Friday.
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