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Zee Media TV news biz Q2 EBITDA up on strong ad rev growth

MUMBAI: Gaining from the election period, Zee Media Corporation Ltd (ZMCL) posted a 34.4 per cent jump in its advertising revenue from the television business while subscription income fell marginally in the quarter ended 30 September 2014 compared to the year-ago period.

Advertising revenue from the TV business stood at Rs 71.1 crore (Rs 711 million), up from Rs 52.92 crore (Rs 529.2 million) a year ago. However, subscription revenue fell 1.1 per cent to Rs 24.62 crore (Rs 246.2 million), down from Rs 24.9 crore (Rs 249 million).

ZMCL_q2_TV biz

Television business operating profit (EBITDA) for Q2 was at Rs 10.49 crore (Rs 104.9 million), up 40.4 per cent compared to Rs 7.48 crore (Rs 74.8 million) a year ago.

Meanwhile, revenues from the print business (dna) stood at Rs 32.59 crore (Rs 325.92 million), while operating loss stood at Rs 8.59 crore (Rs 85.95 million).

ZMCL CEO Ashish Kirpal Pandit said, “I look forward to further consolidating the top line and bottom line. To stay ahead of the competition, we will make our processes for both internal and external customers more robust. Our focus will be geared towards brand building and increasing reach through new launches.”

Meanwhile, on a consolidated basis, ZMCL has posted a net loss of Rs 11.53 crore (Rs 115.32 million) on a total income of operations of Rs 131.12 crore (Rs 1.31 billion). Expenses during the quarter stood at Rs 138.01 crore (Rs 1.38 billion).

In the year-ago period, the company had posted a net profit of Rs 3.86 crore (Rs 38.65 million) at a revenue of Rs 83.02 crore (Rs 830.20 million), while expenses were at Rs 79.06 crore (Rs 790.6 million).

The company noted that financials for last year and current year for the corresponding period are not comparable due to inclusion of newspaper DNA’s financials.

ZMCL’s standalone business include eight news and current affairs and regional-language channels, namely Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Madhya Pradesh Chattisgarh, Zee Marudhara, Zee Kalinga and Zee Punjab Haryana Himachal.

The consolidated operations comprise Zee Akaash News Pvt Ltd (the 60 per cent subsidiary that runs Bengali news channel 24 Ghanta) and three direct/indirect subsidiaries consequent on the merger of Essel Publishers Pvt Ltd with the company, viz. Mediavest India Pvt Ltd, Diligent Media Corporation Ltd (publisher of English daily ‘DNA’) and Pri-Media Services Pvt Ltd (printing of ‘DNA’).

The consolidated operations also include the company’s share of profit/loss of an associate Maurya TV Pvt Ltd (the company that runs news channel Maurya TV), wherein ZMCL holds a 37.87 per cent equity stake.