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Zee Telefilms Q2 net zooms 115%

29-October-2004
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Zee Telefilms Q2 net zooms 115%

Zee Telefilms has posted a net profit of Rs 39.99 crore for the quarter ended September 30, 2004, up 115.46 per cent compared with Rs 18.56 crore in the quarter ended September 30, 2003. Income from sales and service for the quarter has gone up by 74.55 per cent to Rs 188.10 crore (Rs 107.76 crore).

Operating profit has increased to Rs 62.09 crore as against Rs 24.78 crore for the quarter ended September 30, 2003. Interest and other income has come down to Rs 7.95 crore (Rs 17.53 crore). Finance costs in the quarter have scaled down to Rs 2.36 crore (Rs 9.28 crore) due to capital restructuring.

The Zee stock closed on the Bombay Stock Exchange on Thursday at Rs 150.95, down 2.14 per cent from the previous day’s close of Rs 154.25.

The company’s consolidated net profit for the quarter has declined 1.3 per cent to Rs 69.1 crore (Rs 70 crore). Consolidated revenues for the period have grown 7.7 per cent during the quarter to Rs 347.9 crore (Rs 323.1 crore).

According to a media release, gross debt, excluding the foreign currency convertible bonds (FCCB), was reduced by Rs 300 crore during the half year ended September 30, 2004.

A further Rs 100 crore was repaid in October. Consolidated results include the financials of ETC Network and Padmalaya Enterprises Pvt Ltd (PEPL).

The financials of Padmalaya Telefilms (PTL) have not been consolidated in the numbers for the quarter as PEPL’s holding in PTL had dropped below 50 per cent, the release said.

In the year-ago quarter, PTL had contributed Rs 26.1 crore to revenues and Rs 3.3 crore to operating profits.

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