MAM
Recovery on track: Print ad volumes surges by 93% in Q3 shows TAM AdEx
Mumbai: Continuing the path to recovery, print media has witnessed a 93 per cent increase in ad volume in the July-September period, over its previous quarter. The surge in ad volume was led by the services and education sector, according to AdEx India, a division of TAM Media Research, a TV audience measurement agency.
Print media was hit hardest during the pandemic, with ad volumes dropping 47 per cent during the second Covid wave. The overall advertising spends had dropped 43 per cent to Rs 10,350 crore last year from Rs 18,164 crore in 2019. The recent growth in ad volume has come as good news for the newspapers and magazines after a tumultuous period, which had to face shut downs, and mass lay-offs last year.
The analysis also showed that the print ad volume recorded a 37 per cent growth over the same period last year. At least 20 out of the 27 sectors in print media saw positive growth during the three months, compared to the same period a year back.
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Among the top growing categories, ‘Ecom –Food/Grocery’ showed the maximum rise in Ad Volumes with twelve times the growth in Jul-Sep’21 over Jul-Sep’20. From the retail sector, clothing/fashion and consumer durables/home appliances entered the top-ten list with a positive shift in their ranks. Four out of the top-10 growing categories were from the retail sector which saw 4.6-fold growth in the one year under review.
The research firm monitors over 700 newspapers and more than 180 magazines, and found that LIC emerged as the top brand in Jul-Sep’21 followed by Maruti Car Range. Aakash Byjus and Winzo Games were the new entrants in the Top 10 list of Advertisers. Two among the Top 10 brands were from ‘Auto’, ‘Education’ and ‘Personal Healthcare’ sector. The Top 100 brands accounted for nearly 29 per cent share of Print Ad Volumes.
‘Jacket-Full Page’ ads had 31 per cent share in the total ad Volumes followed by ‘Full Page’ ads with 24 per cent share during Jul-Sep’2, according to the report.
Sales Promotions covered 29 per cent of Print Ad Volumes during Jul-Sep’21. Among the various sales promotions used in Print, ‘Multiple Promotion’ grabbed 47 per cent share followed by ‘Discount Promotion’ with 34 per cent share, said the report.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
