Zee Entertainment Enterprises Ltd (ZEEL) has reported third quarter consolidated revenues of Rs 518.2 crore, representing a 24.1 per cent growth over the corresponding period in the previous fiscal. The consolidated operating profit stood at Rs 156.9 crore, up 15.6 per cent as compared to the corresponding quarter last fiscal. Operating profit margin stood at 30.3 per cent. The net profit stood at Rs 113.5 crore, a growth of 18.4 per cent over the corresponding period last fiscal year.
The numbers as published are after consolidating the financials of Taj TV Ltd (Taj) and ETC Networks Ltd.
The company’s advertising revenue went up 25.3 per cent at Rs 263.8 crore as compared to the corresponding period last fiscal, while subscription revenue was at Rs 195 crore for the third quarter ended December 31 2007, an increase of 20 per cent as compared to the previous quarter of the current fiscal.
Subhash Chandra, Chairman, ZEEL, said, “We have recorded a robust 24.1 per cent growth in operating revenue, which is led by advertising revenues growth of 25.3 per cent. Our television broadcasting business continues to lead industry in converting rating success into strong revenue growth. The performance reflects our ability to deliver sustained growth despite lower traction in subscription revenues. We look forward to a strong finish to this year and we are confident of our growth prospects for FY09.”
Chandra further said, “The television broadcasting industry in India, bolstered by fresh digital wave, is attracting everyone out there in the global arena, and we have seen some new players joining the industry during the last quarter. With increased digitisation and more players entering the industry, media consumption would only increase and more customised content offering would be desired. Thus, the future lies in content co-creation, where viewers are also given opportunity to participate in what they want to see and how they want to see. Television broadcasting industry’s landscape is certainly changing to a new high and we believe we possess the requisite momentum, infrastructure and skills to set new benchmarks and deliver long-term growth which would be faster than the industry’s growth rate.”
Punit Goenka, Whole Time Director, ZEEL, commented, “Our flagship channel, Zee TV, has averaged 279 GRPs for the entire quarter. During the quarter, we have not only bridged the gap substantially with the genre leader, but have also surpassed it in the prime appointment viewing. Zee TV today stands tall with over 31 per cent channel share in all day’s ratings, a gain of 2 per cent over the last quarter. Bolstered by newer content in prime time, Zee TV, with channel share of 36 per cent, has also gained 2 per cent over the last quarter.”