1st Feb 2010 15:02
INM'S INDIAN ASSOCIATE REPORTS OPERATING REVENUE GROWTH OF 10% & NET PROFIT GROWTH OF 157% FOR QUARTER THREE ENDED DECEMBER 2009
Ticker: (Bloomberg) INM.ID/ INM.LN and (Reuters) INME.I/ INME.L
Quarter 3 all comparisons with Quarter 3 (2008/09)
·; Operating Revenue at €33.0m, was up 9.6%
·; EBITDA at €9.5m, was up 117.1%
·; Advertising Revenue at €21.5m, was up 8.5%
·; Circulation Revenue at €7.7m, was up 7.8%
·; Profit After Tax at €5.8m, was up 156.9%
·; EPS (non annualised) of Rs 1.32 compared to Rs 0.52
Dublin/London 1st February 2010: Jagran Prakashan Limited ('JPL'), publishers of 'Dainik Jagran', India's largest read newspaper - in which Independent News & Media PLC ('INM') has a 13.5% shareholding - has reported Operating Revenue of €33.0m for Q3FY10*, an increase of 9.6% over the corresponding quarter of the previous year. The Profit After Tax was €5.8m, an increase of 156.9% over the corresponding quarter of the previous year and the EPS for the quarter was Rs 1.32. EBITDA margin (excluding other income) for the quarter was 28.8% compared to 14.5% for the corresponding quarter of the previous year.
As part of its diversification strategy, JPL has continued to invest in the Event and Outdoor businesses. In Q3 FY10, both businesses have shown strong traction with revenue growing to €3.1m, registering an impressive growth of 28.1% over the corresponding quarter of the previous year.
During the quarter, three more editions of City Plus were launched at Navi Mumbai, Bangalore and Pune and since the quarter-end, another edition was launched on the 9th of January 2010 in Hyderabad - City Plus now has 21 editions.
The Company's web portal, "Yahoo! Jagran" continues to be the No. 1 web portal across all Indian regional languages with more than one million unique users. (Source: ViziSense)
The Company continues to focus on increasing its internet presence and launched its interactive blogging platform "Jagran Junction" and its Web portal was further enhanced by adding videos and breaking news tickers.
Commenting on the performance of the company for the quarter ended 31st December 2009, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said,
"Overall the performance in this third quarter was satisfactory. We expect improved performance in the coming quarters on the back of strong economic recovery. I am particularly pleased with the results of our Outdoor and Event Management verticals. The Event management activity has recorded turnover growth of 69% and profit growth of 141%. The company's focus on internet without making a huge investment has continued and we have successfully launched a blogging platform in addition to videos and breaking news tickers on its news portal "www.in.jagran.yahoo.com", that continues to be No.1 website across all Indian regional languages."
* JPL's financial year - end is 31st March.
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ENDS |
1st February 2010 |
For further information, please contact:
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Gavin O'Reilly Dónal Buggy |
Chief Executive Officer Chief Financial Officer |
+353 1 466 3200 +353 1 466 3200
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Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300
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Rory Godson/Paul Durman Powerscourt (London) Tel: +44 20 7250 1446
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Investors and Analysts Mark Kenny/Jonathan Neilan K Capital Source (Dublin) Tel: +353 1 663 3680 Email: [email protected] |
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ABOUT JAGRAN PRAKASHAN LIMITED
Jagran Prakashan Limited is a leading media house of India which publishes Dainik Jagran, India's largest read daily with a total readership of 54.58 million readers (IRS 2009 R2). It was also voted the most credible and trusted newspaper in India, according to a survey by Globscan, conducted in 10 of the world's leading countries, including the US, UK, Germany and Russia.
Established in 1942, Dainik Jagran was the brainchild of the Indian Freedom fighter, Late Shri Puran Chandra Gupta. Dainik Jagran is now published in 37 editions across 11 states from 30 different facilities. The company also launched I-next, the first ever bilingual newspaper in the country in December, 2006 now published from 4 states in 9 editions and also has an English Infotainment paper called City Plus now published in 21 editions. The group publishes Sakhi, a monthly magazine targeted at women. The group also publishes Jagran Varshiki, an annual general knowledge digest, and various national and state statistical compilations.
Jagran Engage provides specialized 'Out of Home' advertising services with a Pan-India footprint. Jagran Solutions provides below the line activities like promotional marketing, event management and on ground activities having pan India presence. The company has Hindi news portal in association with Yahoo India, www.in.jagran.yahoo.com and the company's division J9 provides IVR/AVR/SMS services through its short code service 57272 and besides initiatives in digital businesses.
ABOUT INDEPENDENT NEWS & MEDIA PLC
- CORPORATE PROFILE -
INM is a leading international newspaper and communications group, with its main interests in Australia, India, Ireland, New Zealand, South Africa and the United Kingdom. Spanning four continents, 10 major markets and 22 individual countries, INM has market-leading newspaper positions in Australia (regional), India, Indonesia, Ireland, New Zealand and South Africa. In the United Kingdom, it publishes the flagship national title, The Independent, as well as being the largest newspaper group in Northern Ireland.
Across these regions, the Group publishes over 200 newspaper and magazine titles, delivering a combined weekly circulation of 32 million copies, with a weekly audience of over 100 million consumers and includes the world's largest read newspaper, Dainik Jagran, in India. The Group has established a strong and growing online presence, with over 100 editorial, classified and transactional sites.
INM is the largest radio operator - over 130 stations and an audience of almost six million people - and outdoor advertising operator in Australasia and also has leading outdoor advertising positions in Hong Kong, Malaysia, India, Indonesia and across Africa.
The Group has grown consistently over the last 15 years by building a geographically unique and diverse portfolio of market-leading brands, and today manages gross assets of €2.2 billion, revenue of €1.4 billion and employs approximately 8,700 people worldwide. Further information is available on the Group's website www.inmplc.com.
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