Hold Jagran Prakashan; target of Rs 184: Arihant Capital
Arihant Capital is bullish on Jagran Prakashan has recommended hold rating on the stock with a target price of Rs 184 in its research report dated August 11, 2017.
August 23, 2017 / 05:21 PM IST
Arihant Capital's research report on Jagran Prakashan
For the quarter ended March 2017, Jagran Prakashan Ltd. reported profitability with net profit growing by 2% YoY to Rs 78 cr and 3% sequentially. Total revenue for the company grew by 4% YoY to Rs 492 cr while sequentially the revenue grew by 5%. Advertisement revenue for the company grew by 3.9% YoY to Rs 346 cr while the circulation revenue grew by 1.5% YoY to Rs 102 cr. Digital Advertisement revenue for the company grew by 17% YoY to Rs 7.3 cr. Page views for this quarter reached to 436.89 million while unique users reached 33.37 million.
We have valued the stock at P/E multiple of 11(x) to FY 19E and have arrived at fair value of Rs 184 per share. We have Hold rating for the stock.
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