Visit http://indiaer.blogspot.com/ for complete details Jagran Prakashan (Rating – Buy; Target Price – Rs143)
Circulation revenues are expected to be muted on back of reduction in cover price in Jharkhand
from Rs4 to Rs2. We expect 11% YoY ad revenues growth and flat for QoQ since the festive
season was in Q2 last year compared to Q3 this year. However the ad rate hike affected by the
company should bear dividend on the revenues front.
We expect a 13% increase in newsprint cost on the back of an increase in circulation and higher
newsprint prices on back of rising pulp prices. Hence, we expect the margins to decline by
230bps on YoY basis and 200bps on a sequential basis.
Merger with Mid-Day Multimedia to come from Q3FY11 and not during this quarter on the back
of pending approvals.
No comments:
Post a Comment