I am pleased to share with you Company's financial performance for the FY 2019-20 Asyou already aware that These are tough times but we shall prevail. The COVID-19 pandemicis testing the will of nations and the resilience of people around the world. It is a verypainful test that continues to take away precious lives in many countries.
FY 2019-20 saw deepening slowdown in the economy followed by the outbreak of theCOVID-19 pandemic that led to the most stringent lockdown of the world in the last quarterof the financial year. The lockdown impacted the economy but uncertainties around thelocal lockdowns are proving to be still more difficult to cope with.
I am pleased to share our financials with our esteemed members of the company; In FY2019-20 our total revenue amounted to Rs. 2796.54 Lakhs as against Rs. 2939.95 Lakhs inthe previous year. The Operating Profit before Taxation (PBT) amounted to Rs. 593.10 Lakhsas against Rs. 628.70 Lakhs in previous year. Total Income/Profit after Tax (PAT) amountedto Rs. 435.35 Lakhs as against Rs. 447.20 Lakhs in previous year.
Our advertising revenues slightly decline by 1.42 % to 2312.07 Lakhs in FY 2019-20against 2345.33 Lakhs in the previous year. Our circulation revenue decline by 8.20% to419.10 Lakhs during FY 2019-20 compared to 456.588 Lakhs in FY 2018-19.
We have reinforced our industry position on account of stable and consistent businessstrategy. We aim to strategically explore into new potentials seizing new opportunitiesimplementation of emerging trends synergising strengths and chasing perfection endlessly.The opportunities that lie ahead are significantly vast to ensure sustainable valuecreation for each of our stakeholders.
We have never been in such uncertain times for as long as I can remember. However as ACompany we acted with speed to sense the pandemic's impact which helped us in timelyinitiation of actions. These steps included rationalizing cost and augmenting liquidityfor smooth operations.
I assure that regardless of challenges and difficulties we will always remaincommitted to work in the interests of our employees business partners shareholderssociety and other stakeholders and will be agile to capitalise on any opportunity thesebad times may offer.
Our employees are one of the greatest assets for us with their relentless drive tohelp our organisation scale new heights through their sustained efforts and questthroughout our journey we have experienced growth in terms of presence and performance.
At a time when Fake News is threatening the very fundamentals of our society weprovide a credible reliable and familiar alternative. At the same time providinggreater returns to our advertisers will be a key aspect for future growth.
I would like to convey my sincere appreciation to the Board of Directors for theirguidance. I would also like to express my heartiest gratitude to all our stakeholders fortheir enduring faith in Pradesh Today. I would like to take this opportunity to thank themfor their trust and faith in us. We look forward to continue on our growth path and createvalue on a sustained basis.
With best wishes Sincerely
Hradayesh Kumar Dixit
Chairman and Managing Director