Oct 23, 2015
ZMCL declares its Q2 FY16 results
Noida, India; October 20, 2015 - Zee Media Corporation Limited (ZMCL), erstwhile Zee News Limited, (BSE: 532794, NSE: ZEEMEDIA), today reported consolidated revenues of Rs 1,270.4 mn for second quarter of fiscal 2016. The Network incurred Operating Expenditure of Rs 1,203.3 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 September 30, 2015.
â€¢Â Â Â Operating expenditure for the quarter reduced by 3.7% to Rs 1,203.3 mn in Q2 of FY16 from Rs 1,250.0 mn in Q2 of FY15
â€¢Â Â Â EBITDA for Q2 of FY16 stood at Rs 67.1 mn, a growth of 9.7% over Q2 of FY15
Dr Bhaskar Das, Group CEO, News Cluster, said: "With hardly any content differentiators, news has become commoditized over the years. Fragmentation has also not helped the cause of the genre. However, we at Zee Media have been constantly investing on breaking the clutter and creating path- breaking content so that we can distinctly set ourselves apart from the current normal. Our breakthrough experiments in content have borne results. Zee News, the pioneer in news broadcasting in India, has turned into viewers' first choice of late as we continue to make the content meaningful and relevant in the context of the current discourse. The bouquet of ZMCL channels and our newspaper, dna, continue to be one of India's largest news networks and we leverage our multiple access points to reach both our viewers and advertisers, providing value to every stakeholder at every step."