Jagran Prakashan Limited (JPL), which owns the Hindi daily newspaper Dainik Jagran, has reported consolidated operating revenues of Rs 598 crore for the quarter ended December 31, 2017 (Q3 FY18), which is down marginally by 0.66% year-on-year (YoY) from Rs 602 crores posted in the same quarter last year (Q3 FY17). However, it is up 5.5% from Rs 566.5 crore posted in the previous quarter (Q2 FY18).
Net profit for the quarter stood at Rs 87 crores, down 11.3% from Rs 98 crores net profit in Q3 FY17, and up 21% from Rs 72 crores net profit in Q2 FY18.
The company said although revenue is flat and some de-growth in profits which is on account of the “reasons beyond our control, some recovery has been seen in various discretionary spend sectors, real estate, BFSI and Education. Let us hope that these recoveries are sustained”.
Digital advertisement revenues
The company posted digital advertising revenue of Rs 7.76 crore for the quarter, up 16.8% YoY from Rs 6.65 crores in Q3 FY17. Jagran Prakashan had posted digital ad revenue of Rs8.46 crores in the previous quarter. Overall, revenue from advertisements stood at Rs 439 crore, up 2% from Rs 447.5 crore in the same quarter last year. Which means digital ad revenues represent 1.76% of Jagran Prakashan’s total ad revenues.
The company mentioned that across its digital properties it witnessed 28.9 million unique visitors in the month of November 2017, up 25% YoY. Whereas, the number of page views stood at 230 million, up 3% YoY.
JagranJosh.com, a school and competitive exams preparation platform, witnessed 3.53 million unique visitors in November 2017, up 28% 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 increased by 5% quarter-on-quarter (QoQ) to Rs 356 crore from Rs 339 crore in Q2 FY18 and on a year-on-year (YoY) basis it grew 4% from Rs 370 crore in Q3 FY17.
Mahendra Mohan Gupta, Chairman and Managing Director, JPL said in a statement that issues related to GST continue to “haunt everyone but… will be sorted out sooner than later and will drive the economic growth.Till then, let us wait and do not draw any conclusion for the economy in general or print industry in particular.”
Dainik Jagran, the company’s flagship publication, posted revenues of Rs 391 crore for the quarter, up 5.1% QoQ from Rs 372 crore in Q2 FY18, and marginally 2.25% down from Rs 400 crore on a YoY basis.
Midday Infomedia Limited
Jagran Prakashan’s wholly owned subsidiary, Midday Infomedia Limited posted revenues of Rs 28 crores, as compared to revenues of Rs 31 crores in Q3 FY17, and revenues of Rs 28 crores in the previous quarter. Of this advertisement, revenues accounted for Rs 20 crores or 64.5%.
It posted net profits of Rs 1.43 crores, as compared to net profits of Rs 2.89 crores in Q3 FY17 and net profits of Rs 1.61 crores in Q2 FY18.