Zee News Ltd has announced its unaudited results for the quarter ended December 31, 2007. The company has registered standalone revenues of Rs 95.5 crore, a growth of 38.6 per cent over the corresponding quarter last fiscal on a like-to-like basis. The standalone operating profit for the quarter stood at Rs 21.9 crore. Net profit was at Rs 12.8 crore, a jump of 124 per cent over the previous quarter of this fiscal.
The company’s advertisement revenue went up 48.8 per cent at Rs 77.7 crore on a like-to-like basis as compared to Q3 FY07, while subscription revenue stood at Rs 16.1 crore, an increase of 7.6 per cent as compared to the previous quarter of this fiscal.
Commenting on the results, Subhash Chandra, Chairman, Zee News Ltd, said, “Zee News has delivered a laudable Q3 with a growth of 38.6 per cent in operating revenues compared to the corresponding quarter. This growth has been led by a substantial increase in advertisement revenues, which have grown 48.8 per cent. The Zee News channel deserves special mention given the excellent revenue and viewership performance in the quarter. Zee Marathi maintained its leadership position, while Zee Bangla attained the number one position in the third quarter. Channels under the new business, comprising Telugu, Kannada and 24 Taas, have done very well, with Zee Telugu and Zee Kannada registering a GRP growth of 93 per cent and 23 per cent, respectively.”
Laxmi Narain Goel, Managing Director, Zee News Ltd, said, “The quarter witnessed a sound growth in all our channels. Our flagship channel, Zee News, continued to grow in revenue in this over crowded genre, which is still attracting new players. Zee News remains the only pay channel in the Hindi news channel genre. The other existing businesses of Zee News Ltd have also shown consistent growth, with Zee Bangla attaining the number one position. Our efforts to add value to the content of Zee Telugu, has paid off, with the channel achieving encouraging ratings during Q3. Overall, the results have been very satisfactory with the revenues of both existing as well as new businesses registering a growth of 37.8 per cent and 50.6 per cent, respectively.”