ZMCL registers 30.4% growth in Q3 net profit at Rs 27.2 cr

MUMBAI: Zee Media Corporation Ltd (ZMCL) has posted a 30.4% growth in Q3 net profit at Rs 27.2 crore compared to Rs 20.87 crore in the corresponding quarter of the previous fiscal.

Operating profit was up 26% at Rs 57.99 crore as against Rs 46 crore in Q3 FY18. EBITDA Margin grew from 29.1% in Q3FY18 to 29.9% in Q3FY19.

Operating revenue grew by 22.7% to Rs 194.2 crore in Q3 FY19 from Rs 158.3 crore in Q3 FY18. Operating expenditure increased by 21.3% to Rs 136.23 crore from Rs 112.27 crore due to three new channels last year namely Zee Salaam, Zee 24 Kalak and Zee Uttar Pradesh Uttarakhand.

Ad revenue registered 21.9% growth at Rs 175.5 crore while subscription revenue was up 10.8% at Rs 13 crore. Marketing, distribution, and business promotion expenses jumped 30.9% to Rs 22 crore.

During the quarter, Kanta Devi Allaria, Independent Director, resigned from the Board with effect from 14th December 2018.

ZMCL Executive Director & Chief Operating Officer Rajiv Singh has decided to step down from the Board with effect from 31st January 2019 and shall continue in his position till 28th February 2019.

The Board of Directors has approved the induction of two Additional Directors namely Vishwapati Trivedi (lAS Retd) as Independent Director and Punit Goenka as Non-Executive NonIndependent Director, with effect from 24th January 2019.