Jagran Prakashan Ltd (JPL) Wednesday reported a 12.50 per cent increase in consolidated profit after tax to Rs 70.61 crore for the fourth quarter ended March 2019, helped by growth in advertisement revenue.
The company had posted a consolidated profit after tax (PAT) of Rs 62.76 crore in January-March quarter a year ago, the publisher of leading Hindi daily Dainik Jagran said in a BSE filing.
Its consolidated revenue from operations rose 8.21 per cent to Rs 605.74 crore during the quarter under review as against Rs 559.76 crore in the corresponding quarter a year ago.
Total expenses rose 6.12 per cent to Rs 496.23 crore from Rs 467.58 crore in the corresponding period last year.
"Operating performance was better than expected. Growth in advertisement revenue was in double digit after 11 quarters and as a result, the operating profit also registered growth in mid teens after a long time," JPL Chairman and Managing Director Mahendra Mohan Gupta said.
"The quarter benefited from increase in advertisement rate coupled with the increased advertisement spend by the government ahead of elections," he further added.
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According to the company, its advertisement revenues was up 8.98 per cent to Rs 433.14 crore as against Rs 397.44 crore in the corresponding quarter last year.
Circulation revenue rose 2.05 per cent to Rs 109.57 crore from Rs 107.36 crore in March quarter of 2017-18.
For the full financial year 2018-19, JPL's PAT was Rs 274.23 crore, down 11.81 per cent from Rs 310.97 crore in 2017-18.
Total income for 2018-19 stood at Rs 2,403.42 crore, up 2.24 per cent from Rs 2,350.68 crore in 2017-18.
Shares of Jagran Prakashan Wednesday settled at Rs 111.10 apiece on the BSE, up 1.41 per cent from its previous close.