Jagran Prakashan Limited (JPL), one of India's leading media conglomerates, has reported significant growth in both standalone and consolidated profits for the second quarter of fiscal year 2026, despite facing challenges in its operating margins.

Financial Highlights

For the quarter ended September 30, 2025, JPL posted the following results:

Standalone Results:

Consolidated Results:

Revenue Growth and Profit Surge

On a standalone basis, JPL's operating revenue increased by 10.1% year-on-year, rising from ₹375.76 crores to ₹413.77 crores. The company's standalone profit after tax saw a significant jump of 30.3%, reaching ₹61.73 crores compared to ₹47.37 crores in the same quarter last year.

Consolidated results showed a more modest revenue growth of 4.7%, with operating revenue increasing from ₹446.38 crores to ₹467.36 crores. However, the consolidated profit after tax surged by 36.7%, rising to ₹56.94 crores from ₹41.65 crores in Q2 FY25.

Segment Performance

JPL's diverse portfolio includes print media, digital platforms, radio broadcasting, and outdoor advertising. Key segment highlights include:

• Advertisement revenues grew by 12.9% to ₹276.15 crores
• Circulation revenues slightly declined to ₹78.43 crores from ₹79.87 crores
• Digital revenue remained flat at ₹20.27 crores

EBITDA and Margin Pressure

While JPL managed to significantly boost its bottom line, the company faced some pressure on its operational efficiency. The consolidated EBITDA for Q2 FY26 declined marginally to ₹66.60 crores from ₹67.50 crores in the corresponding quarter of the previous year, marking a 1.3% decrease.

More notably, the EBITDA margin compressed by 87 basis points, falling from 15.12% in Q2 FY25 to 14.25% in the current quarter. This contraction in margin suggests that the company may be facing some challenges in managing its operational costs relative to revenue growth.

Half-Year Performance

For the half-year period:

• Standalone operating revenues increased 8.8% to ₹811.90 crores
• Standalone PAT jumped 45.7% to ₹133.07 crores
• The company received ₹31.80 crores from maturity proceeds of a Key man policy

Looking Ahead

The substantial increase in net profit, both on standalone and consolidated bases, despite margin pressures, may indicate effective cost management and potentially lower interest or tax outgo. However, the company may need to focus on improving operational efficiency to address the declining EBITDA margins in the coming quarters.

As Jagran Prakashan continues to navigate the evolving media landscape, its ability to maintain profit growth while addressing operational challenges will be crucial for sustained performance. The company's diverse portfolio, including its flagship publication Dainik Jagran, positions it well to capitalize on various revenue streams in the media sector.

Jagran Prakashan Limited (JPL), a prominent media company, finds itself embroiled in a legal battle as the National Company Law Tribunal (NCLT) in Allahabad issues notices in a case alleging oppression and mismanagement. The case, which involves multiple members of the company's promoter group, has been scheduled for a hearing on November 3, 2025.

Key Developments

1. New Petition Filed: Shailendra Mohan Gupta and others have filed a company petition (C.P. No. 57 of 2025) against Jagran Prakashan Limited and its holding company, Jagran Media Network Investment Private Limited.

2. Allegations: The petition cites instances of alleged oppression and mismanagement within the company.

3. Case Consolidation: The new petition has been tagged with an existing case (C.P. No. 64 of 2023) filed by Mahendra Mohan Gupta, Shailesh Gupta, and VRSM Enterprises LLP.

4. Respondents: Multiple members of the Gupta family promoter group have been named as respondents in the case, along with the Registrar of Companies, Kanpur.

NCLT Directives

The NCLT has issued the following directives:

1. Notices to be issued to all respondents in C.P. No. 57 of 2025.
2. Respondents are directed to file their replies, preferably within two weeks.
3. The next hearing is scheduled for November 3, 2025, at 3:00 PM.

Company's Response

Jagran Prakashan Limited has made the following disclosures:

1. The company and its holding company have been impleaded as Respondents No. 1 and 2 in the petition.
2. Other members of the Promoter and Promoter Group (Gupta Family members) have been impleaded as Respondents No. 3-19.
3. JPL has committed to providing further updates when there are material developments in the proceedings.

Implications

This legal dispute within the promoter group of Jagran Prakashan Limited could have significant implications for the company's governance and operations. Stakeholders will be closely watching the proceedings as they unfold, given the potential impact on the company's future direction and management.

As the case progresses, it will be crucial to monitor any changes in the company's leadership structure, decision-making processes, and overall corporate governance practices. The outcome of this case could set a precedent for how similar disputes within promoter groups are handled in the Indian corporate landscape.

Investors and market observers are advised to stay tuned for further updates as the case develops, with the next significant date being the hearing on November 3, 2025.