Jagran Prakashan Ltd (JPL), publisher of leading Hindi daily newspaper Dainik Jagran, today reported a 14.56 per cent decline in standalone net profit at Rs 49.69 crore for the quarter ended March 31, 2015.
It had posted a net profit of Rs 58.16 crore in the January-March period of 2013-14, the company said in a BSE filing.
Total income stood at Rs 385.95 crore during the quarter under review, up 1.50 per cent as against Rs 380.24 crore in the year-ago period.
Jagran Prakashan's standalone net profit for the financial year 2014-15 stood at Rs 223.54 crore as against Rs 233.04 crore in the previous fiscal.
Its total income for the year was at Rs 1,616.68 crore compared with Rs 1,549.38 crore in 2013-14.
Commenting on the company's performance, JPL Chairman and Managing Director Mahendra Mohan Gupta said: "Growth in advertisement revenue was under challenge but our ability to adjust swiftly to the environment and no increase in average newsprint cost resulted in impressive growth in profit."
During the quarter, its advertisement revenues increased marginally by 0.4 per cent to Rs 292.90 crore as against Rs 291.66 crore in the year-ago period.
In a separate filing, the company said its Board has recommended final dividend of Rs 3.50 per equity share.
Shares of Jagran Prakashan today closed at Rs 117.45 on the BSE, down 0.80 per cent from its previous close.
