For 4Q FY 2012, Jagran Prakashan’s consolidated net revenues grew by moderate
10.1% y o y to Rs.303 cr. Top-line growth was mainly on account of 11.5 % y o y
growth in advertisement revenues to Rs. 210 cr and healthy 12.4 % y o y growth in
circulation revenues to Rs.63 cr.
The company’s EBITDA margin declined by 3.9 5% y o y to 19.4 %, on back of higher newsprint costs on a y o y basis.
Consequently, Net profit for the company remained flat on a y o y basis to Rs. 43 cr.
Currently, the stock is trading at FY2014E price to earnings multiple of 12.6x.
We maintain our Buy view on the stock with a target price of Rs.137.
By Angel Broking, 6th Floor, Ackruti Star Central Road,MIDC, Andheri (E) , Mumbai-93
Main : (91-22) 3935 7600 Extn : 6956 Website : www.angelbroking.com
10.1% y o y to Rs.303 cr. Top-line growth was mainly on account of 11.5 % y o y
growth in advertisement revenues to Rs. 210 cr and healthy 12.4 % y o y growth in
circulation revenues to Rs.63 cr.
The company’s EBITDA margin declined by 3.9 5% y o y to 19.4 %, on back of higher newsprint costs on a y o y basis.
Consequently, Net profit for the company remained flat on a y o y basis to Rs. 43 cr.
Currently, the stock is trading at FY2014E price to earnings multiple of 12.6x.
We maintain our Buy view on the stock with a target price of Rs.137.
By Angel Broking, 6th Floor, Ackruti Star Central Road,MIDC, Andheri (E) , Mumbai-93
Main : (91-22) 3935 7600 Extn : 6956 Website : www.angelbroking.com
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