Press Releases2015May 26, 2015
ZMCL declares its Q4 FY15 results
Noida, India; May 22, 2015 - Zee Media Corporation Limited (ZMCL), erstwhile Zee News Limited, (BSE: 532794, NSE: ZEEMEDIA), today reported fourth quarter of fiscal 2015 consolidated revenues of Rs 1,398.8 mn. The Network incurred Operating Expenditure of Rs 1,244.9 mn in the fourth quarter. The Board of Directors, in its meeting held today, approved and took on record the financial results of ZMCL for the fourth quarter ended March 31, 2015.« Back
Dr Subhash Chandra, Nonâ€executive Chairman of the Board, said: "The Indian economy has picked up growth momentum with concerted institutional and policy interventions pushing the GDP growth forecast for FY16 to around 8%â€8.5%. With the growth rate likely to surpass China's for the first time in more than 15 years, we are expecting that investor confidence and consumption pattern will move in the right direction. Simultaneously, there has been a marked improvement in ease of doing business. Also, with inflation easing further to below 5% and the government meeting its fiscal deficit targets for FY15, we can hope for further revival across industries and sectors. This should promote ad spends by the industry and benefit the media and entertainment sector in the mid to long run."
Dr Bhaskar Das, Group CEO, News Cluster, stated: "Zee Media has consolidated its position as a leading news network in the country reaching over 187.9 mn consumers through all its television and digital platforms in the Quarter 4 of FY15. The continued growth in advertising revenue in FY15 gave us ample scope to experiment with path breaking content like roping in cricket celebrities for our world cup programming. From 'update' to 'upgrade', our content philosophy has evolved to cater to the ever increasing demands of an engaged consumer. The initiation of BARC ratings in the new fiscal will bring about a paradigm shift in how the industry and advertisers track the viewership data."
Ashish Kirpal Pandit, CEO, ZMCL said: "The company, in addition to upgrading its content and increasing its penetration among advertisers, is also focusing on improving its operational efficiency, which is evident from the improved margins. The company plans to make full use of the increase in digitization and expected improvement in viewership measurements and move towards a more analytical approach to doing business."