ZEE Oct-Dec quarter profit up 40 pc at Rs 193.31 cr

Jan 23 2013, 22:25 IST
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SummaryThis is against a consolidated net profit of Rs 137.61 crore for the same period last year, ZEE said in a statement.

Media conglomerate Zee Entertainment Enterprises (ZEE) today posted 40.5 per cent jump in consolidated net profit at Rs 193.31 crore for the third quarter ended December 31, 2012.

This is against a consolidated net profit of Rs 137.61 crore for the same period last year, ZEE said in a statement.

Total income from operations stood at Rs 509.38 crore for Q3 FY'13 as against Rs 395.50 crore in the year-ago period, up 28.7 per cent.

"The first three quarters of this fiscal have been good and with one quarter to go we are looking forward to a strong growth this year," ZEE Chairman Subhash Chandra said.

The highlight of this quarter is the strong growth momentum in advertising revenues, despite subdued spends, he added.

Advertising revenues were up 28.8 per cent at Rs 509.4 crore, while subscription revenues grew by 25.6 per cent in the reported quarter.

"Subscription revenues were Rs 409.8 crore, a growth of 25.6 per cent. This is the highest revenue ever in a quarter. domestic subscription revenue stood at Rs 296.1 crore, while international subscription revenue was Rs 113.6 crore," the statement said.

During the quarter, the company invested substantially in content and marketing of existing channels as well as launch of HD chanels, Ten Golf, Ditto TV, Zee Alwan, Zee Bangla Cinema and Zee Q.

"Our network viewership saw a successful mix of new and returning shows. Overall, I am confident about the next 12 months and continue to make further investments in new content and channels," ZEE CEO and Managing Director Punit Goenka said.

These new investments will impacts ZEE's operating margins in the short0term, they will enhance the company's performance in the medium-term, he added.

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