Jagran Prakashan's revenue up 14.86% to Rs 1,856.17 crore in FY23

Jagran Prakashan, the publisher of the Hindi daily Dainik Jagran, reported a 55.86% decline in its consolidated net profit to Rs 23.27 crore for the fourth quarter ended March 2023.

The company had posted a net profit of Rs 52.73 crore during the January-March quarter a year ago, Jagran Prakashan Ltd (JPL) said in a BSE filing.

Its revenue from operations increased 8.19% to Rs 459.38 crore during the quarter under review against Rs 424.58 crore in the year-ago period.

This quarter also "includes impairment of goodwill and investment in associates of Rs 72.96 crore", the company said in its earning statement.

JPL's total expenses surged 28.85% to Rs 486.92 crore in Q4 FY23 compared to Rs 377.87 crore a year ago.

Its total income in the March quarter was Rs 512.25 crore, up 16.13%.

For the fiscal ended March 2023, JPL's net profit was down 9.26% at Rs 196.78 crore against Rs 216.87 crore in FY22.

However, its consolidated revenue from operations rose 14.86% to Rs 1,856.17 crore in FY23.

JPL Chairman and Managing Director Mahendra Mohan Gupta said, "The Company performed satisfactorily, reporting growth twice of estimated growth in the economy during the year. As the numbers show, all the businesses recorded significant growth in revenues".

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