Press Releases2015Jan 27, 2015
ZMCL declares its Q3 FY15 results
Noida, India; January 22, 2015 - Zee Media Corporation Limited (ZMCL), erstwhile Zee News Limited, (BSE: 532794, NSE: ZEEMEDIA), today reported third quarter of fiscal 2015 consolidated revenues of Rs. 1,398.7 mn. The Network incurred Operating Expenditure of Rs. 1,230.8 mn in the third quarter. The Board of Directors, in its meeting held today, approved and took on record the financial results of ZMCL for the third quarter ended on December 31, 2014.« Back
Dr Subhash Chandra, Non-executive Chairman of the Board, said: "The New Year has started on a bullish note with the federal bank cutting the policy rate to revive the engines of growth. While the government has been taking ample policy initiatives to boost investor confidence in the country, the rate cut is an effort to compliment the current dispensation in putting India on high growth trajectory. With up to $ 8 bn expected to flow in post the reform in key sectors like pharma, insurance and others, we expect that economy will finally pick pace and the ease of doing business will significantly improve. The increase in the FDI limit in insurance to 49% besides reviving the sector will also have a multiplier effect, especially in fulfilling the much needed infrastructure financing. The easing of inflation has also brought cheer to the common man and has given opportunity to the government to experiment. With the economy outlook looking brighter quarter after quarter, I hope that the media and entertainment industry will also benefit in the mid to long run."
Dr Bhaskar Das, Group CEO, News Cluster, stated: "We continue to reach the highest number of consumers across India through our TV channels. Consolidating our position as the largest news network, Zee Media Corporation Limited (ZMCL) reached over 116 mn consumers through its 2 national channels and 8 regional channels. Striving to create content differentiator in a me-too market, we are investing strategically into content that aligns with big news events. The increased focus on content has been made possible by robust growth in advertisement revenue. I am also happy to note that the government is favorably viewing broadcasters' opposition to the whole paradigm on the ad cap regulation."
Ashish Kirpal Pandit, CEO, ZMCL said: "On top of the learning curve of how to make broadcasting operations profitable, we at ZMCL are hopeful that our regional bouquet will stabilize soon and start yielding positive returns. We also expect that the impact of digitization will come into full play very soon. We are confident about the business which will be backed by high quality shows that will hit the screen very soon."