Jagran Prakashan Ltd surges by 15 percent on plans for share buyback

News24

LAST UPDATED: Feb. 22, 2021, 1:44 p.m.

New Delhi (Anish Yande): Jagran Prakashan recorded a surge in shares on Monday’s trading session. The shares of Jagran Prakashan were recorded at Rs 49.50 per share on the previous close on Friday.  The media company recorded a share price of Rs 56.90 per share on the market opening on Monday. 

The shares reached a high of Rs 57.65 per share in the trading sessions.

The Board of Directors of Jagran Prakashan would be holding a meeting to consider a share buyback plan. The directors would be meeting on March 02, 2021, for a buyback of the fully paid-up equity shares. 

Jagran Prakashan Q3 FY21 earnings:

Jagran Prakashan recorded net sales of Rs 252.76 crore in the September 2020 quarter. The media company recorded an increase in net sales to Rs 351.80 in December 2020 quarter.

The media company recorded an operational revenue of Rs 252.76 in the September quarter and which rose to Rs 351.80 in the December 2020 quarter. 

The company recorded a net profit of Rs 82.64 in the December 2020 quarter as compared to a net profit of Rs 78.24 in the December quarter in 2019. 

Revenue from advertisement was recorded at Rs 403.29 crore in the year-ago fiscal and decreased to Rs 292.67 crore in the December quarter. The digital and print revenue was recorded at Rs 11.73 crore in the December quarter of the previous fiscal which rose to Rs 14.29 crore in the December 2020 quarter, at an increase of 21.8 percent. 

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The radio business of Jagran Prakashan recorded operating revenue of Rs 40.67 crore in the previous fiscal which rose to Rs 69.64 crore in the December quarter. 

The operating profit of Dainik Jagran, a publication of Jagran Prakashan, recorded an operating profit of Rs 112.51 crore. The publications of Jagran Prakashan posted operating revenue of Rs 82.61 crore in the corresponding fiscal as compared to the revenue of Rs 54.03 crore in the December 2020 quarter. 

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