Jagran Prakashan net profit falls 55.8% at Rs 23.27 cr in March quarter

Jagran Prakashan Ltd, publisher of the Indian daily Dainik Jagran, on Tuesday announced a 55.86 per cent drop in its consolidated net profit to Rs 23.27 crore for the fourth quarter ended March 2023.

Jagran Prakashan Ltd (JPL) announced in a BSE filing that the company posted a net profit of Rs. 52.73 crore during the January-March quarter last year.

Its revenue from operations increased by 8.19% to Rs.459.38 crore during the quarter under review as against Rs.424.58 crore in the same period last year.

“Including impairment of goodwill and investment in associates of Rs.72.96 crore,” the company said in its earnings statement also this quarter.

JPL’s total expenditure increased by 28.85 per cent to Rs. 486.92 crore in the fourth quarter of FY23 compared to Rs. 377.87 crore a year earlier.

Its total income in the March quarter was Rs. 512.25 crore, up by 16.13 percent.

For the financial year ending March 2023, JPL’s net profit decreased by 9.26% to Rs.196.78 crore as against Rs.216.87 crore in FY22.

However, its consolidated revenue from operations increased by 14.86% to Rs. 1,856.17 crore in FY23.

“The company’s performance is satisfactory, recording double the estimated growth in the economy during the year. And as the numbers show, all businesses have recorded strong revenue growth,” said Mahendra Mohan Gupta, Chairman and Managing Director of JPL.

Shares of Jagran Prakashan Ltd settled on Tuesday at 68.90 rupees per share on BSE, down 0.14 percent from the previous close.