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Jagran Prakashan’s digital ad revenue grew 33.9% YoY to Rs 8.46 Cr in Q2FY18

Jagran Prakashan Limited (JPL), which owns the Hindi daily newspaper Dainik Jagran, has reported consolidated operating revenues of Rs 566.55 crores for the quarter ended September 30, 2017 (Q2 FY18), which is up marginally by 2.11% year-on-year (YoY) from Rs 554.83 crores posted in the same quarter last year (Q2 FY17). However, it is down 4.19% from Rs 591.33 crores posted in the previous quarter (Q1 FY18).

Net profit for the quarter stood at Rs 72.23 crores, down 16.06% from Rs 86.06 crores net profit in Q2 FY17, and down 18.61% from Rs 88.75 crores net profit in Q1 FY18.

Digital advertisement revenues

The company posted digital advertising revenue of Rs 8.46 crore for the quarter, up 33.9% YoY from Rs 6.32 crore in Q2 FY17. Jagran Prakashan had posted digital ad revenue of Rs 7.63 crores in the previous quarter. Overall, revenue from advertisements stood at Rs 421.51 crore, up 2.3% from Rs 411.95 crore in the same quarter last year. Which means digital ad revenues represent a little over 2% of Jagran Prakashan’s total ad revenues.

Digital traffic

The company mentioned that across its digital properties it witnessed 33 million unique visitors in September 2017, up 109% YoY. Whereas, the number of page views stood at 283 million, up 51% YoY.

JagranJosh.com, a school and competitive exams preparation platform, witnessed 5.06 million unique visitors in September 2017, up 164% YoY.

Jagran Prakashan’s other digital properties include Jagran.com, Bol India Bol, Mid-Day.com, Jagran Junction, RadioCity.in, and Inext Live.

Print advertisement revenue

Print advertisement revenue decreased by 6.63% quarter-on-quarter (QoQ) to Rs 338 crore from Rs 362 crore in Q1 FY18, while it remained almost flat on a year-on-year (YoY) basis from Rs 337 crore in Q2 FY17.

The company mentioned that demonitisation and the roll-out of GST had affected its print ad revenue.

Dainik Jagran, the company’s flagship publication, posted revenues of Rs 372 crore for the quarter, down 6% QoQ from Rs 396 crore in Q1 FY18, and marginally down from Rs 374 crore on a YoY basis.

Midday Infomedia Limited

Jagran Prakashan’s wholly owned subsidiary, Midday Infomedia Limited posted revenues of Rs 28.35 crores, as compared to revenues of Rs 27.53 crores in Q2 FY17, and revenues of Rs 30.73 crores in the previous quarter. Of this advertisement revenues accounted for Rs 20.84 crores or 73.51%.

It posted net profits of Rs 1.61 crores, as compared to net profits of Rs 1.01 crores in Q2 FY17 and net profits of Rs 3.12 crores in Q1 FY18.

Sale of Naidunia Media Limited

Jagran Prakashan has sold its share in its wholly owned subsidiary company, Naidunia Media Limited, which the company has termed as a ‘Non-Operating’ entity “having no business, revenue, and assets.” It has been sold to Vinay Chhajlani, the promoter of Diaspark Infotech Private Limited for Rs 5 lakh. Note that Jagran Prakashan has mentioned that the net worth of the company at the time of signing this deal stood at a negative Rs 2.78 lakh.

Download: Financials | Presentation | Press Release

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