New Delhi: Publishers of India’s largest read Hindi daily Dainik Jagran – the Jagran Prakashan Limited (JPL) witnessed the net profit reach Rs 206.80 crore for the financial year 2010-11. In a significant achievement the media house has registered the total operating revenues of Rs 1221.09 crore during this period.

The company for the first time after takeover of Mid-day Infomedia has announced its consolidated annual results. The Board of Directors of the company has recommended dividends of Rs 3.50 per share.

Talking about the company results, Chairman and Managing Director of Jagran Prakashan, Mahendra Mohan Gupta said, “The publishing and other business of the company has been overwhelming. The operating and net margin of the company has improved despite fluctuation in exchange rate and decline in the marketing revenue owing to the increase in cost of news printing.”

Adding the financial results of Mid-day, the company reported the operating profit of Rs 356.77 crore in the previous fiscal. It received advertising revenue of Rs 853.99 crore and the promotional marketing revenue of the JPL stood at Rs 238.44 crore during the fiscal 2010-11.

Gupta further said that the performance of the Mid-day has also been satisfactory.

The acquisition of Mid-day Infomedia was implemented on April 1, 2010.

The media house reported growth of over 17 per cent in its profit after tax during the 2010-11 fiscal at Rs 205.83 crore as against Rs 175.90 crore in the previous fiscal. During the last fiscal, its standalone operating revenues went up by 18.41 per cent to Rs 1,115.32 crore from Rs 941.89 crore in 2009-10.

In addition to the advertising and promotional marketing revenue, the total income of the company also includes the revenue earned from outdoor and digital advertising and event management. 

The media house has performed well in other areas. During this period, the promotional activity of Dainik Jagran increased to 8.17 percent and the group has won International awards like International News Media Marketing Association (INMA) and WAN INFRA (World Association of Newspapers and News Publishers).

(JPN/Bureau)