Jagran Prakashan's Jamshedpur radio station goes on air
DSIJ Intelligence / 16 Jan 2017
Jagran Prakashan’s (JPL) subsidiary Music Broadcast has started broadcast from its radio station at Jamshedpur.
Jagran Prakashan’s (JPL) subsidiary Music Broadcast has started broadcast from its radio station at Jamshedpur. The company has acquired rights for broadcasting from this location under Phase III auctions held last financial year. The frequency for Jamshedpur location is 91.1 F.M.
On the financial front, JPL’s revenue increased 6.28 per cent to Rs 459 crore in Q2FY17, as compared to the same period in the previous financial year. However, the company’s EBITDA decreased 2.26 per cent to Rs 121 crore in Q2FY17 on a yearly basis, while its net profit increased 14.25 per cent to Rs 75.46 crore in Q2FY17 as compared to the same period in previous fiscal.
JPL’s subsidiary Music Broadcast has already filed initial public offer (IPO) papers with the market regulator Securities Exchanges Board of India (SEBI). The company will raise an amount of Rs 400 crore from the primary market.
The share price of JPL declined by 1.28 per cent on the bourses and closed at Rs 180.95 on an intra-day basis. Going forward, the company may get SEBI approval for carving out its FM business through listing of Music Broadcast.
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