Jagran Prakashan surges 16% on six-fold jump in Q2 profit

New Delhi: Shares of

Jagran Prakashan

soared 16 per cent in Tuesday’s session after the company reported a strong performance in the September 2021 quarter.

The publisher of Hindi daily Dainik Jagran reported a sixfold jump in its consolidated net profit at Rs 60.89 crore for the quarter ended September 2021. It had posted a net profit of Rs 10.14 crore during the September quarter a year ago.

Following the update, shares of Jagran Prakashan zoomed 16 per cent to Rs 71.20, before paring some gains to trade at Rs 68.65 around 10.15 am. BSE Sensex was trading 340 points or 0.56 per cent higher at 61,308 at the same time. The scrip had settled at Rs 61.55 on Monday.

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The media player’s revenue from operations was up 39.23 per cent year-on-year (YoY) to Rs 402.52 crore during the quarter under review as against Rs 289.10 crore in the corresponding quarter a year ago.

During the said quarter, its revenue from ‘Printing, publishing and digital’ was at Rs 341.64 crore, up 36.96 per cent, as against Rs 249.44 crore of the corresponding period last fiscal.

FM Radio business revenue was up 39.76 per cent at Rs 42.04 crore during the period under review as against Rs 30.08 crore in Q2FY21.

Shares of Jagran Prakashan have surged as much as 85 per cent in the last one year. They have gained 14 per cent in the last one month itself.

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