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Jagran Prakashan Q1 PAT down 25.6% to Rs 65.75 cr

The company had posted a profit after tax of Rs 88.35 crore during the April-June quarter a year ago, Jagran Prakashan Ltd (JPL) said in a BSE filing.

July 31, 2019 / 10:01 PM IST
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Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, July 31 reported a 25.58 per cent decline in consolidated profit after tax to Rs 65.75 crore for the first quarter ended June, 2019.

The company had posted a profit after tax of Rs 88.35 crore during the April-June quarter a year ago, Jagran Prakashan Ltd (JPL) said in a BSE filing.

Its revenue from operations fell 3.15 per cent to Rs 588.28 crore during the quarter under review as against Rs 607.46 crore in the corresponding quarter a year ago.

"Economic headwinds continued causing increased stress on consumption and in consequence on advertising spend by the advertisers," JPL Chairman and Managing Director Mahendra Mohan Gupta said.

He further said: "Auto industry, being one of the largest advertisers, recorded the highest degrowth in their sales since 1995. Similarly, revenues from election were also far below the expectations and could not compensate the loss of revenue from auto sector and government."

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JPL's total expenses rose 3.19 per cent to Rs 487.93 crore from Rs 472.83 crore a year ago.

Shares of JPL on Wednesday settled at Rs 83.15 on the BSE, down 5.62 per cent from previous close.
PTI
first published: Jul 31, 2019 09:59 pm

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