Zee Media Corporation, erstwhile Zee News, has reported consolidated revenues of Rs 830.2 million for the second quarter ending September 30, 2013. Consolidated EBITDA stood at Rs 74.8 million in Q2 FY14. Net profit before tax stood at Rs 64.7 million, while operating expenditure was reported at Rs 755.4 million.
Advertising revenues of the company grew at 20.5 per cent at Rs 529.2 million on YTD basis for the same quarter.
Subscription revenues continued to grow on a year-on-year basis on the back of sustained demand for the Network’s channels. Subscription revenues grew 11.9 per cent at Rs 249 million.
Subhash Chandra, Non-executive Chairman of the Board remarked, “Our company has embarked to consolidate our news media presence by bringing together our television, print and internet content under a single umbrella. This will enable us to reach out to our customers in a seamless anytime and anywhere mode.”
Bhaskar Das, Group CEO, News Cluster added here, “While the overall market conditions are rather tough at this point of time, we are growing from strength to strength by expanding our network. We launched Zee Rajasthan Plus in Rajasthan in early July and will soon launch in other regional markets.”
“We have taken steps to dish out progressive and relevant content for the viewer, focussing on key issues facing the nation. For instance, our network-wide initiative, Bharat Bhagya Vidhata, has received tremendous feedback and social media engagement from viewers, thinkers and political fraternity alike by reaching a sum total of over 100 million television viewers cumulatively,” shared Alok Agrawal, whole-time Director.