Zee Telefilms has posted an increase of 12 per cent in its net profit for the first quarter ended June 30, 2001, at Rs 29.88 crores compared to Rs 26.70 crores for the first quarter ended June 30, 2000. Total income for the quarter stands at Rs 119.22 crores as against Rs 81.10 crores for the corresponding quarter of last year indicating an increase of 47 per cent.
Zee Network, on a consolidated basis, has reported a 13-per cent fall in its net profit for the current quarter to Rs 36.37 crores from Rs 41.83 crores for the same period last year. The decrease in net profit is due to the increased interest cost and higher tax provisioning.
Zee Telefilms’ income figures includes Rs 12 crores from the company’s home production “Gadar.” The gross collection from “Gadar” was expected to be in the range of Rs 70-80 crores. The percentage of collections, which would translate to income, could not be ascertained at this stage.
According to a company statement, the network’s initiative towards creating a bouquet of channels in the domestic market with the DTO operations has met with success. Domestic subscription revenues have grown by 200 per cent over the corresponding period of last year at Rs 13 crores. Subscription revenues, that includes domestic and overseas, have grown by 30 per cent to Rs 67 crores.
The company expects that pay revenues will contribute significantly towards the network’s performance in the coming years. On the international business front, the company statement says, the network has managed to increase its viewership.