Press Releases2014Oct 21, 2014
ZMCL declares its Q2 FY15 results
Noida, India; Oct 20, 2014 - Zee Media Corporation Limited (ZMCL), erstwhile Zee News Limited, (BSE: 532794, NSE: ZEEMEDIA), today reported second quarter of fiscal 2015 consolidated revenues of Rs. 1,311.2 mn. The Network incurred Operating Expenditure of Rs. 1,250 mn in the second quarter. The Board of Directors, in its meeting held today, approved and took on record the financial results of ZMCL for the second quarter ended on September 30, 2014.« Back
Dr Subhash Chandra, Non-executive Chairman of the Board, said: â€œEven as GDP growth in the second quarter is likely to be lower than that in the first quarter of this financial year, domestic industry is likely to witness improved margins which help in developing the investment climate in the country. With India emerging as the only country in the BRICS block to pick up a growth momentum, foreign investors are expected to inject the much needed funds into the system. The honorable Prime Minister's recent visit to Japan and the US are also likely to augment the same. The mood of public as well as business confidence has improved in general. Providing further buoyancy to the economy is the new hope on the horizon that inflation may finally start softening on the back of steady fall in international crude oil prices and easing of food inflation in the second quarter. A vibrant economy, helped by government's policy push, will benefit the media and entertainment industry in the mid to long run."
Dr Bhaskar Das, Group CEO, News Cluster, stated: "Cementing our position as the largest private news network, the 10 news television channels, Mumbai Edition of DNA and news websites of Zee Media Corporation Limited (ZMCL) reached 147 million consumers of news and views across the country. Our incisive and comprehensive coverage of PM Narendra Modi's visit to the US, which included key guest interaction from ABC News Studio at Times Square, was appreciated by viewers. While we continue with our effort to provide seamless content across various platforms, we have posted robust growth in advertisement revenue. On the ad cap regulation, the government has given positive signals which have been welcomed by the industry.
"The company also welcomes on board Mr. Ashish Kirpal Pandit, the new CEO of ZMCL and President, Corporate Affairs, Essel Group.Â With an experience of 25 years in telecom, retail and office automation, Ashish is best known for his expertise in developing operational strategies and managing P&L of businesses."
Ashish Kirpal Pandit, CEO, ZMCL said: "I feel proud to be associated with the pioneer group in India's broadcast industry. I look forward to further consolidating the topline and bottomline. To stay ahead of the competition, we will make our processes for both internal and external customers more robust.Â Our focus will be geared towards brand building and increasing reach through new launches."