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ZEE posts Q3 fiscal 2015 consolidated revenue at Rs 13,637 million

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 ZEE posts Q3 fiscal 2015 consolidated revenue at Rs 13,637 million

Zee Entertainment Enterprises Limited (ZEE) on Wednesday reported its third quarter fiscal 2015 consolidated revenue at Rs 13,637 million. The consolidated operating profit (EBITDA) for the quarter stood at Rs 3,533million, recording a growth of 21.5 per cent over the corresponding period of the previous fiscal. PAT for the quarter was Rs 3,065 million. The EBITDA margin for the quarter stood at 25.9 per cent and PAT margin at 22.5 per cent.

The Board of Directors in its meeting today has taken on record the unaudited consolidated financial results of ZEE and its subsidiaries for the quarter ended December 31, 2014.

“The overall economic sentiment in India continues to remain positive post the formation of the new central government. The GDP growth rate for the first half of the fiscal has been a healthy 5.5 per cent. The decline in oil prices globally should help in easing pressure on the Indian economy in the form of reduced fiscal deficit and lower inflation. The recent rate cut by the RBI is indicative of good times to come. The business sentiment has been improving over the past few months. We are hopeful that this improved economic environment is going to lead to sustained growth in coming years. The media industry will also benefit from improvement in the economic environment. TV ad spends are likely to further improve in the forthcoming quarters," said Subhash Chandra, Chairman, ZEE.

He added, "Our quarterly performance reflects the investments that ZEE is making to grow its business and market share. The viewership market share has been strong, which has helped us continue to grow ahead of the market. We will continue to pursue growth opportunities, which would enhance long term shareholder value. We have a strong balance sheet and are confident that we would benefit from the growth opportunities ahead of us."

Punit Goenka, Managing Director and CEO, ZEE, said, "The television industry had a good quarter as far as ad spends are concerned. The festive season saw a robust growth, which moderated slightly post the period. We had a good quarterly performance, reflecting the industry wide trend. On the domestic subscription front, ZEE's Hindi Movie Cluster -- Zee Cinema, &pictures, Zee Classic, Zee Premiere and Zee Action -- lead the genre with a relative share of 30.8 per cent. The key properties on Zee Cinema during the quarter were -- Lage Raho, Double Mazaa and Shanivaar Ki Raat Sitaron Ke Saath. This quarter saw the premieres of Entertainment, Satyagraha and Raja Natwarlal on Zee Cinema, while &pictures saw the premieres of Mad About Dance and Manjunath.

The network operates two channels in the English entertainment and movies genre -- Zee Cafe and Zee Studio. Zee Cafe is one of the leading channels in its genre with a relative share of 15.7 per cent and delivered a weekly average of 11 shows in top 100 during the quarter.

Zee Khana Khazana, the premium lifestyle channel from ZEE, continues to be at the top of ratings chart with a relative share of 36.2 per cent in the food and lifestyle genre. It also had the highest reach across the genre. The channel has firmly established itself as No. 1 lifestyle channel in the country. The channel delivered a weekly average of six shows among top 10 during the quarter led by the top performing properties like Kifayati Kitchen, All about Cooking and Bacha Party.

During the quarter, Zee Marathi extended its lead as the No.1 channel in its genre. The channel recorded a relative share of 51.8 per cent among all Marathi GECs. 

Zee Bangia is one of the leading players in the Bangia GEC genre. During the quarter, it recorded a relative share of 35.7 per cent. The channel leads the non-fiction genre with 75 per cent market share.

During the quarter, Zee Telugu increased its relative channel share to 24.1 per cent. The channel was the slot leader in four out of 10 prime time bands during weekday primetime for the quarter.

Zee Kannada increased its relative share to 14.8 per cent during the quarter. Zee Tamil recorded a relative share of 4.8 per cent during the quarter.

The key properties on our sports channels bouquet during the quarter  included the telecast of Pakistan vs Australia cricket series, Pakistan vs New Zealand cricket series, Sri Lanka vs England cricket series, UEFA  Champions League, Asian  Games 2014, WWE Survivor Series, FIH Champions Trophy and ATP World Tour Finals, among others.  The sports business revenues in the third quarter of FY2015 were Rs 2,476 million, while costs incurred in this quarter were Rs 2,746 million.

ZEE's International operations constitute a significant part of the company's revenues. The highlights of the international operations during the quarter were as follows: In Americas, Zee TV continued to garner the highest viewership share among South Asian networks. ZEE also created a separate Zee TV Caribbean feed for the Caribbean market. Zee TV Russia currently ranks among the top 10 Movie Serial Genre Channels in Russia. Zee TV Middle East aired its first entirely UAE produced Hindi drama series named "Parwaaz", from November 2014. Zee TV and Zee Cinema continued to be the Number 1 South Asian channels in their respective genres in  the  UAE.  

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