Press Releases2014

Jan 24, 2014
ZMCL declares its Q3 FY14 results

Noida, India; January 23, 2014 - Zee Media Corporation Limited (ZMCL), erstwhile Zee News Limited, (BSE: 532794, NSE: ZEEMEDIA) today reported third quarter fiscal 2014 consolidated revenues of Rs. 916.8 million. Consolidated EBITDA stood at Rs. 143.0 million. Net Profit Before Tax stood at Rs. 109.5 mn and Operating Expenditure at Rs. 773.8 million. The Board of Directors, in its meeting held today, approved and took on record the Unaudited financial results of ZMCL for the third quarter ended on December 31, 2013.

Operating Highlights

  • The Subscription revenues continued to grow strongly by 21.6% at Rs. 270.0 mn in the third quarter indicating a strong demand for the Network's channels. The Subscription performance was also significantly high on YTD basis growing at 17.5% at Rs. 729.0 mn.
  • The Operating revenues for the quarter grew by 6.8% at Rs. 916.8 mn. On YTD basis the growth was 12.3% at Rs. 2,523.9 mn.  
  • EBITDA and Net Profit Before Tax for the quarter stood at Rs. 143.0 mn and Rs. 109.5 mn while the corresponding figures on YTD basis were Rs. 310.9 mn and Rs. 259.4 mn. The Company has made substantial expenditures in new channels like Zee Madhya Pradesh Chhattisgarh and Zee Marudhara. It also has incurred preparation expenses for launch of Zee Kalinga in Odisha and relaunch of Maurya TV in Bihar/Jharkhand market.

Mr. Subhash Chandra, Non-executive Chairman of the Board, said "Even as the global and domestic macro-economic environment poses challenges to growth, the private sector in the country has shown immense resilience to tide over the short term problems of a sluggish economy. With signs of inflation stabilizing over the next few months, the growth momentum, especially in the private sector, is likely to pick up.  On its part, ZMCL has always stayed ahead in anticipating issues affecting the company performance in the long term. We have moved towards a more integrated approach to the news consumer by taking forward the process of bringing the news television, print and internet together. Our continued expansion in strategic growth markets is another indication of how we are looking to leverage the growing economy."

Dr. Bhaskar Das, Group CEO, News Cluster said, "In order to fulfill our commitment of providing quality content for our regional viewer, we have recently introduced locally produced programming in Zee Marudhara. Additionally, we would be launching Zee Kalinga servicing Odisha market and have rebranded Maurya TV, which we acquired, as Zee Purvaiya. Our new channels launched in the current financial year have had significant growth in viewership with Zee Madhya Pradesh Chhattisgarh becoming number two channel in a few months of its launch and Zee Marudhara increasing its GTVTs by over four times in the quarter as opposed to the previous one. New Media growth numbers too have been encouraging with registering an increase of 28.2% in visits."

Mr. Alok Agrawal, Whole-time Director, said, "It has been an action packed quarter for us here at ZMCL. We have restaged Zee News channel with refreshed programming and look & feel. The channel now is more contemporary and youth-oriented. The channel, post restaging, has increased its weekly TVTs by about 18% in the last four weeks of the quarter. Our other national channel Zee Business also has performed exceedingly well by developing non-stock market hours viewership and has almost two and a half times viewership of all the English Business news channels put together. Our Network-wide initiative Bharat Bhagya Vidhaata also has had a great response especially from New Age consumers with #BBV reaching 19.9 mn."

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