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Jagran Prakashan: Advertising revenues take the cake - Views on News from Equitymaster
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  • Feb 16, 2016 - Jagran Prakashan: Advertising revenues take the cake

Jagran Prakashan: Advertising revenues take the cake
Feb 16, 2016

Jagran Prakashan has announced results for the third quarter of financial year 2015-2016 (3QFY16). The company has reported a 23% YoY growth in sales and 40% YoY growth in net profits respectively. Here is our analysis of the results.

Performance summary

  • The sales grew by 23% YoY during 3QFY16.
  • During the quarter, the company reported an operating profit growth of 33% YoY, higher than the sales growth.
  • EBITDA margin increased YoY from 26.3% to 28.4% in 3QFY16.
  • Profit after tax for the company grew by 40% YoY.

Consolidated Financial performance snapshot

(Rs m) 3QFY15 3QFY16 Change 9mFY15 9mFY16 Change
Net sales 4,584 5,646 23.2% 13,137 15,419 17.4%
Expenditure 3,380 4,043 19.6% 10,013 11,232 12.2%
Operating profit (EBDITA) 1,204 1,604 33.2% 3,125 4,187 34.0%
EBDITA margin (%) 26.3% 28.4%   23.8% 27.2%  
Other income 130 181 38.9% 483 548 13.4%
Interest 79 172 118.7% 236 380 61.0%
Depreciation & amortisation 266 284 6.8% 749 802 7.1%
Profit before tax and exceptional items 990 1,329 34.2% 2,623 3,554 35.5%
Exceptional items - -   - -  
Profit before tax 990 1,329 34.2% 2,623 3,554 35.5%
Profit before tax margin (%) 21.6% 23.5%   20.0% 23.0%  
Tax 323 396 22.6% 839 1,072 27.7%
Extraordinary items (net of tax)   1,163  
Profit after tax 667 933 39.8% 1,784 3,645 104.3%
Net profit margin (%) 14.6% 16.5%   13.6% 23.6%  
Share of profits of associates 0 0   0 0  
Minority Interest 2 -   1 -  
Profit after share of associates & minority interest 666 933   1,783 3,645  
No. of shares (m)   327  
Reported earnings per share (Rs)*   15.1  
P/E (x)*         10.3  

*trailing twelve month earnings

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