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  • May 30, 2013 - Jag. Prak.: Higher operating expenses hurt profits

Jag. Prak.: Higher operating expenses hurt profits
May 30, 2013

Jagran Prakashan has announced results for the fourth quarter of financial year 2012-2013. The company has reported a 10.4% YoY growth in sales and a 10.2% YoY fall in net profits respectively. Here is our analysis of the results.

Performance summary
  • The sales grew by 10.4% YoY during the quarter and by 13.5% YoY during the full year.
  • During the quarter, advertising grew by 8.2% YoY, circulation by 21.2% and event and outdoor by 4.5% YoY. Rise in circulation was largely because of rise in cover prices.
  • Operating expenditure grew by 18.1% YoY during the quarter and by 19.4% YoY during the financial year 2012-13. Other expenses recorded highest increase of 24% YoY during the quarter.
  • Operating profits declined by around 18% YoY and operating margins fell by 5.5% during the quarter ended March 2013.
  • Other income fell by 40.8% YoY and interest expenses rose by 44% YoY during the March quarter.
  • Jagran reported net profit fall of 10.2% YoY during the quarter and 22.7% YoY growth during the year. Net profit margins fell by 2.6% in the quarter to 11.2%.
  • Jagran did not report any taxes to be paid on account of tax implications of its recent acquisition of Nai Dunia.
  • The company declared a dividend of Rs 2 per share (dividend yield of 2%).

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