Jagran reports highest ever profits from Print, Digital, Outdoor biz in Q3FY22

Jagran Prakashan Limited, publishers of Dainik Jagran, has reported highest ever profits from Print, Digital and Outdoor businesses in its financial results for the quarter and nine-months ended December 31, 2021.

Q3FY22 (all comparisons with Q3FY21)  

Jagran Prakashan has registered consolidated operating revenues of Rs 518.51 crore, up by 28.8% from Rs 402.61 crore in Q3 FY2021.

Advertisement revenues for Q3 Y2022 stood at Rs 387.08 crore, up by 32.3% from Rs 292.67 crore, representing advertisement revenue from print, digital and radio. Circulation Revenues were reported at Rs 89.68 crore, a growth of 6.4% from Rs 84.27 crore in Q3 FY2021. Other Operating Revenues stood at Rs 41.75 crore, up by 63% from Rs 25.66 crore in the dorresponding quarter of the previous fiscal.

Print Digital Revenue was reported at Rs 20.87 crore, up by 46.1% from Rs 14.29 crores in Q3 FY2021, which includes advertisement revenue. Operating Profit was at Rs 167.94 crore, an increase of 29.9% from Rs 129.32 crores in Q3 FY2021. Net Profit for Q3 FY2022 stood at Rs 110.32 crore, up by 43.1% from Rs 77.08 crore in Q3 FY2021.

Commenting on the performance of the company for the quarter ended December 31, 2021, Mahendra Mohan Gupta, Chairman and Managing Director, JPL, said, “It gives me immense pleasure to report that moving further up on the accelerated growth path of the previous quarter, overall business performance of the company during this quarter was outstanding. This was possible due to a strengthening Indian economy, festive season, tireless efforts of our team, continuing cost control measures taken since outbreak of pandemic and increased government advertisements. During the current quarter, almost all our businesses, viz. print, digital, radio and outdoor, have performed incredibly.”

Gupta further said, “We expect growth momentum to continue, but the industry has to deal with the very high unexpected increase in newsprint prices.”