Zee Media Corporation has reported Q1 FY15 consolidated revenues of Rs 1,334.6 million.
Television business operating revenue for the first quarter ended June 30, 2014 grew by 33.7 per cent to Rs 1,038.7 million. TV business EBITDA for the first quarter stood at Rs 132.2 million, up 42 per cent.
Television advertising revenue for Q1 FY15 stood at Rs 800.1 million, a growth of 51.2 per cent.
Subhash Chandra, Non-executive Chairman of the Board remarked, “The Union Budget presented in July has helped improve the investment climate and has restored business confidence. More money has been put in taxpayer’s pocket, thereby enhancing his purchasing power. Raising FDI limits in certain sectors and disinvestment of certain PSUs would also go a long way in injecting funds into economy. While the government has taken a path of fiscal prudence, Consumer Price Inflation still remains a major area of concern, which hopefully will be better addressed through monsoon revival. The new buoyancy in the economy, backed by a well-intentioned policy push, is bound to make a positive impact on Indian media industry.”
Commenting on the group’s performance, Dr Bhaskar Das, Group CEO, News Cluster said, “Continuing to expand our horizon, Zee Media has enlarged its reach to over 147 million users across the country, again consolidating its position as the largest private news network. We have also continued to sharpen our focus on our online medium by ensuring seamless integration of content across platforms. The network set high benchmarks in coverage of General Elections, striking a rich balance between insightful analysis and reportage from the field. While we are constantly striving for creating content differentiators, the network has posted a strong growth in advertisement revenue, especially on Counting Day of the General Elections.”