MUMBAI: Jagran Prakashan Ltd (JPL), publishers of Dainik Jagran, has reported a 14.18 per cent fall in its consolidated net profit for the fiscal ended 31 March 2012 even as its advertising revenue went up 9.89 per cent.

JPL posted a net profit of Rs 1.78 billion, down from Rs 2.08 billion in the previous fiscal. The company said net profit is after accounting for steep increase in newsprint prices (Rs 570 million), increase in circulation of Dainik Jagran (9.37 per cent), initial loss from Punjabi Jagran (Rs 120 million), higher depreciation (Rs 90 million) and interest cost (Rs 70 million) during the fiscal.

Operating revenues jumped 11.02 per cent to Rs 13.56 billion, from Rs 12.21 billion in the previous fiscal.

Advertising revenues accounted to Rs 9.38 billion, compared to Rs 8.54 billion in the previous fiscal, while circulation revenues were up 11.29 per cent to Rs 2.65 billion (from Rs 2.38 billion). The revenue from event and outdoor business jumped 20.49 per cent to Rs 1.13 billion (from Rs 939.5 million), while digital revenues were up by 23.17 per cent in the fiscal to Rs 82.4 million, from Rs 66.9 million.

The company?s expenses also surged 19.32 per cent to Rs 11.1 billion, compared to Rs 9.30 billion a year ago.

perating profit fell to Rs 3.17 billion, from Rs 3.56 billion in FY?11.

JPL CMD Mahendra Mohan Gupta said, "After registering a growth of 15 per cent in Q3, there was again a growth of 11.5 per cent in ad revenue in Q4. Similarly, other revenues too recorded robust growth in the most economically difficult circumstances prevailing during the year."

"We are cautious and we are taking all necessary steps to keep our cost under strict control as the external environment has worsened and is, in fact, a hurdle in the way of progress. Nobody knows what is further in store but I am confident that the company will continue to perform incredibly."

The consolidated results include 96.19 per cent of Midday Multimedia, 48.64 per cent interest in Leet OOH Media and 39.2 per cent in X-pert Publicity.

During the fiscal, JPL also acquired Suvi Info-Management (Indore), the 100 per cent holding company of Naidunia Media, publisher of Nai Dunia and Nav Dunia. However, it was not consolidated as Subi became subsidiary of JPL at the close of business on 31 March 2012, JPL clarified.

It also said that dues of Suvi of Rs 2.99 billion were included in long-term borrowings since settled as part of acquisition.