Jagran Prakashan Q2 net profit declines 37.8% to Rs 44.87 crore

Jagran Prakashan Ltd (JPL), the publisher of leading Hindi daily Dainik Jagran, today reported a 37.87 per cent decline in its consolidated profit after tax to Rs 44.87 crore for the second quarter ended on September 2018.

The company had posted a profit after tax of Rs 72.23 crore during the July-September quarter a year ago, Jagran Prakashan said in a BSE filing.

Total income during the quarter under review was at Rs 560.56 crore, down 3.19 per cent, as against Rs 579.08 crore of the corresponding quarter of the previous fiscal.

Commenting on the result, JPL Chairman and Managing Director M M Gupta said, "The quarter unexpectedly delivered disappointing results in spite of our best efforts such as taking the increase in cover prices wherever possible and keeping the cost under check."
He further said, "We could mitigate some impact of steep fall in revenues and abnormal increase in newsprint prices but these efforts were not enough to maintain revenues and profits. However, Radio, Digital and Nai Dunia performed strongly in spite of shift of festive season to Q3."