Jagran Prakashan Ltd, publishers of Hindi daily newspaper Dainik Jagran, today reported a 4.55 per cent decline in consolidated net profit at Rs 55.13 crore for the quarter ended June March 30, 2014.
It had posted net profit of Rs 57.76 crore in the April-June period of 2013-14, the company said in a BSE filing.
Net sales stood at Rs 430.12 crore during the quarter under review, up 6.79 per cent as against Rs 402.75 crore in the year-ago period.
Commenting on the results, Jagran Prakashan CMD M M Gupta said: "The mother brand 'Dainik Jagran' continues to record healthy operating margin exceeding 30 per cent inspite of increased newsprint cost and overall economy not yet supporting growth in advertisement revenue."
During the quarter, Jagran Prakashan's advertising revenue went up by 6.81 per cent to Rs 308.89 crore in the quarter under review.
Shares of Jagran Prakashan closed at Rs 119.40 on the BSE, up 0.51 per cent from their previous close.
