Jagran Prakashan Net Up 120%; Ad Revenues Up 20%

Publisher Jagran Prakashan Ltd posted net profit of Rs50.27 crore for the quarter ended 30 September, up 120% from the year-ago period on strong growth in ad revenues. While ad revenues were up 19.45% year-on-year at Rs171.6 crore, subscription revenues grew 15.06% y-o-y to Rs54.28 crore.

Revenues from out-of-home and event management businesses also grew 36% y-o-y to Rs16.99 crore, the company said in a statement. Total expenditure dipped marginally (1.6%) to Rs176.58 crore.

In a statement, JPL chairman Mahendra Mohan Gupta said he expected the OOH and events businesses to turn profitable during this fiscal.

2Q 2009 2Q 2008
EPS Rs1.67 Rs0.75
Net Income Rs50.27 crore Rs22.69 crore
Revenue Rs246.82 crore Rs208.62 crore

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