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Read more about Shree Rama Newsprint reports standalone net loss of Rs 28.84 crore in the December 2020 quarter on Business Standard. Sales decline 44.27% to Rs 53.97 crore ....
Newsprint cost up 20 pc in 3 months; publishers seek waiver in customs duty NEW DELHI, Jan 17: Cost of paper used to publish newspapers and magazines has jumped 20 per cent in the past three months due to demand-supply imbalance following the pandemic, prompting news publishers to rush to the government seeking waiver of 5 per cent import duty to help cut cost. An industry that was facing headwinds from a slowing economy even before the pandemic, was hit hard when most readers stopped buying newspapers and magazines on fears of them being carriers of viruses. While there are no medical studies that have established the virus transmission theories, sales did not pick up even after lockdown restrictions were relaxed, industry leaders said. ....
As newsprint prices go up, industry seeks help from government Ahead of the 2021 Union Budget, the Indian Newspaper Society (INS), the Indian Newspaper Society (INS) has asked Union finance minister Nirmala Sitharaman to help print media tide over the crisis that the pandemic caused, by removing customs duty on newsprint imports and a stimulus package for the industry, including releasing government advertisements to publications at rates that are 50% higher. With the pandemic affecting circulation and ad revenue many newspapers have already shut shop and those still in business are now looking to the government to bail them out. The print industry feels it is time the government to extend a helping hand for them to stay afloat. ....
linkedin With the pandemic affecting circulation and ad revenue, many newspapers have already shut shop and those still in business are now looking to the government to bail them out. The print industry feels it is time the government to extend a helping hand for them to stay afloat.
To add to the worry, in the last three months, newspaper cost has jumped 20% resulting from the post-pandemic demand-supply imbalance, prompting news publishers to petition the government for waiver of 5% import duty to help cut cost.
Meanwhile, the Directorate of Advertising & Visual Publicity’s (DAVP) rates for advertising in newspapers are much lower than the commercial rates and this brings down their margins. For many years, INS has been asking the government to increase the prices. ....