Jagran Prakashan Q4 net profit at Rs 80.19 crore

Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, today reported a consolidated net profit of Rs 80.19 crore for the fourth quarter ended March 31, 2016.
The company had posted a net profit of Rs 129.66 crore in the January-March period a year ago.
Jagran Prakashan Ltd (JPL)'s consolidated total income from operations during the quarter under review was at Rs 529.49 crore. It was Rs 422.73 crore in the corresponding quarter of the previous fiscal.
Meanwhile, the company said that its figures for the quarter and year ended March 31, 2016 are not comparable as they include the results of SBHPL, crystal and MBL w.E.F June 11, 2015 which has been acquired from the said date.

"Similarly assets and liabilities of these companies have also been included in the consolidated statements for the first time. Accordingly, same are not comparable with the corresponding previous quarter/previous year period," said Jagran Prakashan.
For the entire 2015-16 fiscal, Jagran Prakashan's net profit on consolidated basis was at Rs 444.73 crore. It was Rs 307.96 crore in the previous fiscal.

Its total income from operations was Rs 2,106.51 crore in 2015-16 as against Rs 1,769.76 crore in the preceding year.
Commenting on the results, JPL CMD Mahendra Mohan Gupta said: "The group made a foray into the fast growing radio industry by acquiring one of the strongest radio assets in the country, Radio City, crossed the mark of Rs 2,000 crore in sales and reached near Rs 600 crore of operating profit for the first time."

Meanwhile, in a separate filing to BSE, Jagran Prakashan said its board has approved re-appointment of Mahendra Mohan Gupta as Chairman and Managing Director of the company.
The board also approved re-appointment of "Sanjay Gupta, Whole Time Director designated as 'Chief Financial Officer', Dhirendra Mohan Gupta, Sunil Gupta and Shailesh Gupta as Whole Time Directors for the period of 5 years w.E.F. October 01, 2016".
Shares of Jagran Prakashan today settled at Rs 175.15 apiece on the BSE, up 0.83 per cent from previous close.