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ZEE reports strong FY13 growth on back of subscription, advtg revenues

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ZEE reports strong FY13 growth on back of subscription, advtg revenues

Zee Entertainment Enterprises (ZEEL) has reported its fourth quarter FY13 consolidated operating revenues at Rs 9,643 million, recording a growth of 11 per cent as compared to the corresponding quarter last fiscal. For the full year, the company registered total revenues of Rs 36,996 million, an increase of 21.7 per cent over FY12.

Advertising revenues for the quarter grew 15.5 per cent to Rs 4,792 million over Q4 FY12. For the full year FY13, advertising revenues increased by 24 per cent to Rs 19,639 million.

Subscription revenues were at Rs 4,546 million for Q4 FY13, recording a growth of 13 per cent over the corresponding period last fiscal. This is the highest revenue ever in a quarter. For the full year FY13, subscription revenues were Rs 16,234 million, a growth of 22.6 per cent.

Profit after tax (PAT) for the quarter ended March 31, 2013 stood at Rs 1,804 million, a growth of 10.7 per cent over the corresponding quarter last fiscal. For the full year FY13, PAT stood at Rs 7,182 million, recording a growth of 21.6 per cent.

Commenting on the company’s results, Subhash Chandra, Chairman, ZEE said, “Zee had a very successful year in FY13, with strong financial results. This year also marked the completion of 20 years of Brand Zee.”

He further noted, “FY13 was a defining year for the television media sector in many ways. The biggest transformation was the implementation of Digital Addressable System (DAS) in the 42 largest cities of India. At the end of March 2013, there were an estimated 33 million digital pay TV homes on DTH and an estimated 16 million homes on digital cable, up from 29 million DTH and 4 million digital cable homes, respectively in March 2012. Though advertising growth has been muted for the television industry as a whole, ZEE has recorded industry leading growth of 24 per cent in FY13.”

Punit Goenka, Managing Director and Chief Executive Officer, ZEE commented, “FY13 has been a good year both on operating and financial parameters. Consolidated revenues increased 21.7 per cent to Rs 37 billion driven by strong growth in both advertising and subscription revenues.” 

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