Jagran net jumps 135%

Kanpur-based publishing house Jagran Prakashan today reported 135.24 per cent jump in net profit to Rs 17.54 crore for the quarter ended September 30 this year, on the back of a rise in advertisement and circulation revenues and better performance of its outdoor and event management businesses.

Cost reduction was also achieved by lesser use of imported newsprint. "During this quarter, the company's businesses have done well. We have substantially increased our client base in our out of home and event management business," Chairman and Managing Director Mahendra Mohan Gupta said.

The publisher, which brings out the country's largest read newspaper 'Dainik Jagaran', reported 25.88 per cent rise in its revenues to Rs 141.72 crore from Rs 112.58 crore in the corresponding quarter last year. The net profit had stood at Rs 7.46 crores last year. The earnings per share (non-annualised) of Rs 3.49 was higher by 82.72 per cent.

The advertisement revenue shot up 30.11 per cent to Rs 91.48 crore, driven by the increases both in rates as well as total space sold. Circulation revenue rose 8.40 per cent to Rs 42.70 crore over the quarter.

Jagran Engage, the outdoor advertising division with a pan-India presence, has already acquired marketing rights of various properties in Kanpur, Pune, Kolkata, Delhi, Mumbai and Bangalore. Another revenue driver, Jagran Solutions "� the event management arm "� has clients like Microsoft, Hutch, Godrej, TVS Motors, ICICI Prudential, Escorts, Standard Chartered Bank, Bajaj, TATA Indicom and Hindustan Lever on board.