Jagran Prakashan Q4 net up 41%; declares 100 pc dividend

Media house Jagran Prakashan today reported a growth of 41 per cent in its net profit for the fourth quarter ended March 31 to Rs 21.81 crore.     

The company had a net profit of Rs 15.48 crore during the January-March quarter a year ago, Jagran Prakashan said in a filing to the Bombay Stock Exchange.     

Total income of the company, which published Hindi daily Dainik Jagran, rose to Rs 201.25 crore during the fourth quarter of FY'09 from Rs 190.01 crore of corresponding period a year ago.     

The media house has declared a final dividend of 100 per cent or Rs 2 per share.     

 

"The performance of the company during the financial year 2008-09 was satisfactory given the global economic slowdown coupled with sky high newsprint prices," Jagran Prakashan CMD Mahendra Mohan Gupta said.     

"However, the outlook continues to be pretty positive for the entire media industry although there is going to be some pressure on revenue in near term," Gupta added.     

For the financial year ended March 31, 2009, the company posted a net profit of Rs 91.63 crore, down 7 per cent against Rs 98.12 crore of a year earlier.     

Total income of the company rose to Rs 823.37 crore during the latest fiscal from Rs 749.63 crore of FY'08.     

Shares of Jagran Prakashan surged over 4 per cent to trade at Rs 83 in the afternoon trade on the BSE.