30th Jan 2007 17:20
Independent News & Media PLC30 January 2007 INM'S INDIAN ASSOCIATE LIFTS Q3 NET PROFIT BY 143.8% REVENUES INCREASE BY 29.8 % Dublin/London - 30th Jan, 2007: Jagran Prakashan Limited ('JPL'), publishers of'Dainik Jagran', India's largest read newspaper (Source: IRS), in whichIndependent News & Media PLC ('INM') holds a 21% strategic shareholding, hasrecorded net revenues of Rs 1.63 billion (c. €28.2 million) for Q3 FY07, anincrease of 29.8% over the corresponding quarter of the previous year. The netprofit was at Rs 177.0 million (c. €3.1 million), a sharp increase of 143.8%from Rs 72.6 million in the corresponding quarter of the previous fiscal year.The EPS for the quarter at Rs 2.94, compared to Rs 1.47 in the correspondingquarter of FY 06. The company also announced an interim dividend of Rs 7.50 pershare. Better advertising and circulation revenues from the publishing business haveled to the increased revenues in this quarter. The Out of Home (OOH) and EventManagement activities of the company have contributed Rs. 83 million (c. €1.4million) of the increased revenues. In the publishing business, the increase in advertising rates and total space(particularly colour space) sold have led to a 28.5% increase in advertisingrevenue to Rs 1.03 billion (€17.8 million), while circulation revenue increasedby 3.63% to Rs 427.3 million (c. €7.4 million) in Q3 FY07. JPL launched I-next, the first bilingual newspaper in the country in thisquarter, targeting readers in the age group of 18-35 years, from SEC A and B1.The paper was launched in Lucknow and Kanpur and the company has plans to launchthe brand in 5 more mini-metros of Northern India. The company also launched City Plus, an English Infotainment newspaper inSeptember 2006, which has shown commendable response in this quarter. Owing tothe success of the initial editions in Noida and Gurgaon, the company alsolaunched editions of the paper in Faridabad and Ghaziabad and has plans tolaunch four more editions in the current fiscal year. Commenting on the performance and developments in the company in this quarter,Mr. Mahendra Mohan Gupta, CMD of Jagran Prakashan Limited said "We have alwaysdirected our efforts towards providing quality reading material to our readersand our constant effort is to provide the readers what they want to read. Withthe launch of I-next and City Plus, we are now in a position to cater to readersacross different age groups and categories, both in Hindi and English. TheOut-of-Home and Event Management businesses of the company are also growing, andare well poised to add to the revenues in the coming time." Jagran Engage, the Out of Home (OOH) advertising division of the company, hasestablished its presence in the leading markets of Lucknow, Kanpur, Pune,Kolkata, Delhi, Mumbai and Bangalore. The division now has about 700 sites, inaddition to advertising rights at Lucknow railway station and has plans forfurther growth. JPL is concentrating on its current markets and strengthening its position asmore editions will keep maturing. It aims to increase its market share throughits launch of I-next and City Plus, and seeks to provide 360degrees marketingsolutions under one umbrella through its various business segments. About Jagran Prakashan Limited Jagran Prakashan Limited is a leading media house of India which publishesDainik Jagran, India's largest read and highest circulated daily with a totalreadership of 18.19 million readers per day (IRS 2006 R2). It was also voted themost 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, Germanyand Russia. Established in 1942, Dainik Jagran was the brainchild of the Indian Freedomfighter, Late Shri Puran Chandra Gupta. The first edition was launched fromJhansi, Uttar Pradesh in 1942. Dainik Jagran is now published in 31 editionsacross 11 states from 30 different facilities. The company also launched I-next,the first ever bilingual newspaper in the country in December, 2006 and also hasan English Infotainment paper called City Plus. The group publishes Sakhi, amonthly magazine targeted at women. The group also publishes Jagran Varshiki, anannual general knowledge digest, and various national and state statisticalcompilations. Jagran Engage, a newly created division provides specialized 'Out of Home'advertising services with a Pan-India footprint. Jagran Solutions provides belowthe line activities like promotional marketing, event management and on groundactivities having pan India presence. The company's portal www.jagran.com isthe most visited Hindi portal in the world. The company provides IVR/AVR/SMSservices through its short code service 7272. ENDS. Tuesday, 30th January 2007 For further information, please contact: Gavin O'Reilly +353 1 466 3200 Chief Operating OfficerDonal Buggy +353 1 466 3200 Chief Financial Officer +------------------------------------------------------------------------------+|Media: |+--------------------------+------------------------+--------------------------+|Pat Walsh |Rory Godson |Paul Keary ||Murray Consultants |Powerscourt Media |Financial Dynamics ||(Dublin) |(London) |(New York) ||Tel: +353 1 498 0300 |Tel: +44 207 236 5619 |Tel: +1 212 850 5600 |+--------------------------+------------------------+--------------------------+|Investors and Analysts: | | |+--------------------------+------------------------+--------------------------+|Mark Kenny/ Jonathan | | ||Neilan | | ||K Capital Source (Dublin) | | ||Tel: +353 1 631 5500 | | ||Email: | | ||[email protected] | | |+--------------------------+------------------------+--------------------------+ ABOUT INDEPENDENT NEWS & MEDIA PLC - CORPORATE PROFILE - INM is a leading international newspaper and communications group, with its maininterests in Australia, India, Ireland, New Zealand, South Africa and the UnitedKingdom. Spanning four continents and 21 individual countries, INM hasmarket-leading newspaper positions in Australia (regional), India, Ireland, NewZealand and South Africa. In the United Kingdom, it publishes the flagshipnational title, The Independent, as well as being the largest newspaper group inNorthern Ireland. Across these regions, the Group publishes over 175 newspaper and magazine titlesdelivering a combined weekly circulation of over 31 million copies with a weeklyaudience of over 100 million consumers and includes the world's largest readnewspaper, Dainik Jagran, in India. The Group has established a strong andgrowing online presence, with over 70 editorial and classified sites. INM is the largest radio operator - 132 stations and an audience exceeding fivemillion people - and outdoor advertising operator in Australasia and also hasleading outdoor advertising positions in Hong Kong, Malaysia, India, Indonesiaand across Africa. The Group has grown consistently over the last 15 years by building ageographically unique and diverse portfolio of market-leading brands, and todaymanages gross assets of €4.0 billion, revenue of €1.8 billion and employsapproximately 10,300 people worldwide. Further information is available on theGroup's website www.inmplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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