Zee Telefilms on Thursday reported third quarter consolidated revenues of Rs 3,550 million, excluding Padmalaya, representing one per cent growth over the corresponding period in the previous year. The consolidated operating profit, excluding Padmalaya, stood at Rs 1,093 million, representing a nine per cent decline over the same period last year.
Profit before tax for the third quarter of fiscal 2004-05 was Rs 1,103 million, a decline of 5 per cent compared to the corresponding quarter last year, while net profit at Rs 865 million is higher by 1 per cent.
Commenting on the figures, Subhash Chandra, Chairman and Managing Director, Zee Telefilms, said, “Zee is in an investment phase, with several new channels added and DTH business receiving due investments for growth. The financial performance of the third quarter has to be seen in the context of the startup phase of these initiatives. We continue to invest for the long-term based on promising opportunities available in the industry.”
Advertisement revenue which stood at Rs 1,796 million for the third quarter, was lower by 2.5 per cent. Subscription revenue at Rs 1,624 million was up by 8.2 per cent compared to the corresponding period last fiscal. Domestic subscription revenue, including DTH, was Rs 707 million for Q3, up by 31.3 per cent.