Jagran Prakashan plans another buybuck
Jagran Prakashan is considering another buyback. In a notice to the exchanges, the publisher announced to consider the proposal for buyback of the fully paid-up equity shares of the company, as well as matters related/ incidental thereto. The share prices of the company surged more than 15 percent after the proposal was notified. The share prices touched Rs 57.65 recently which about a week back were at Rs 43.85. Jagran Prakashan, the publishers of the highest circulated dailies like Dainik Jagran also has digital, radio, out-of-home (OOH) offerings.
Jagran Prakashan reported consolidated operating revenue of Rs 402.61 cr for the quarter ended December 31, 2020 as against Rs 552.98 cr in the same quarter of the previous fiscal amid a drop in ad and circulation revenue. Advertisement revenue declined to Rs 292.67 cr as against Rs 403.29 cr. Similarly, circulation revenue dropped to Rs 84.27 cr from Rs 107.47 cr. Other operating revenue stood at Rs 25.66 cr as against Rs 42.22 cr. Print-digital revenue came in at Rs 14.29 cr, up by 21.8 percent from Rs 11.73 cr.