Jagran Prakashan Q2 net up 26% on strong ad revenue

Jagran Prakashan Q2 net up 26% on strong ad revenue


New Delhi: Jagran Prakashan Ltd, publishers of leading Hindi daily newspaper Dainik Jagran has reported a 25.5% increase in net profit at Rs22 crore for the second quarter ended 30 September, riding on robust growth from advertising and circulation revenues.

The daily, which, according to IRS, is the largest read newspaper in the country, has posted a 23.4% rise in the net operating revenues at Rs177.17 crore for Q2, it said in a press release.

The company also announced an interim dividend of 50% or Rs5 a share of Rs10 each. The board of directors recommended sub-division of equity share of face value of Rs10 each into 5 equity shares of face value of Rs2 each to expand the investor base. This will increase the number of shares of the company to 30.10 crore from the current 6.02 after the shareholders approval.

Advertising revenues from the publishing business grew 24.77% at Rs116.57 crore , due to higher rates and increase in total space sold. Circulation income rose 8.35%.