Jagran's Digital Business Cut Losses By Rs 4 Crore In FY11
Jagran Prakashan Ltd, which publishes dailies Dainik Jagran and Mid-Day, cut its losses from its digital business by Rs 4 crore for the year ended March'11.
In the analyst conference call following the company's results announcement, RK Agarwal, CFO, Jagran Prakashan, said, "The high points of performance were growth of nearly 170 per cent in digital business, 54 per cent in event management activities, and 21 per cent in outdoor advertising. Outdoor, for the first time since inception, reported an operating as well as net profit. Event management continued to remain in profit and digital business reduced its losses by Rs 4 crore." He added that after a gap the company had increased circulation by about 8.17 per cent.
The media firm reported standalone revenues from its digital business of Rs 8.24 crore for the year ended March 2011, compared to Rs 3.06 crore in the fiscal 2010.
Jagran's digital division MMI Online operates Onlymyhealth.com, Jagranjosh.com, video sub-site Videos.Jagran.com, blogging site JagranJunction.com, Jeetle.in, a reverse auction portal, Jagran.com, In.Jagran.Yahoo.com, iNext.com and classifieds site Khojle.in.
Print revenues crossed the Rs 1,000 crore mark and registered a growth of nearly 17 per cent led by growth in advertisement revenue of 20 per cent during the year ended March 31, 2011.
The contribution of non-newsprint businesses increased from 9.85 per cent in the fourth quarter of FY10 to 12.6 per cent in the fourth quarter of FY11. This resulted in a fall in operating margins.
Mid Day Circulation Up
Jagran noted that since its acquisition of the tabloid Mid Day, circulation has risen by 12 to 13 per cent. Circulation revenues rose to Rs 15.44 crore for FY11.
Despite expected increase in newsprint prices and expansion of The Inquilab, the company expects Mid-Day Infomedia Limited to report a profit before tax of about Rs 17 crore in the next fiscal.
Mid Day registered a 208 per cent rise in digital revenues for the year ended March 2011.