Zee Entertainment Enterprises has reported its first quarter fiscal 2016 consolidated revenue of Rs. 13,399 million. The consolidated operating profit (EBITDA) for the quarter stood at Rs. 3,112 million. PAT for the quarter was Rs. 2,423 million. The EBITDA margin for the quarter stood at 23.2 per cent and the PAT margin was 18.1 per cent.
The Board of Directors has taken on record the unaudited consolidated financial results of ZEE and its subsidiaries for the quarter ended June 30, 2015.
Subhash Chandra, Chairman, ZEE, stated, “India is the third largest economy in Asia and will continue on a steady growth trajectory as the economic reforms in the legislative pipeline come through. With reforms like GST set to be implemented in the near future, the government is ready to unlock India’s investment potential by improving business environment and liberalizing FDI. With the aforementioned developments in the economic environment we hope that the Media industry will see improvement in revenues in the near future.”
“The Indian Media & Entertainment industry is making strides in the economy, backed by rising advertising revenues and consumer payments. 61 per cent of all households in India are now equipped with a television making us the second largest TV viewership market after China. With digitization, subscription revenues in urban and rural areas are growing, resulting in a healthy impact on the industry,” he stated.
Commenting on the results of the company, Chandra added, “ZEE has recorded a satisfactory performance during the first quarter. Our investments have resulted in organic growth which is in line with our expectations. We will continue to build ZEE’s presence in this highly competitive space by creating compelling content across genres and by pursuing new opportunities that will yield long term growth.”
Punit Goenka, Managing Director & Chief Executive Officer, ZEE, commented, “ZEE has started the year on a good note witnessing good returns on the operational front. This clearly highlights the popularity of our programs which continue to attract loyal audiences. We continue to experience growth in both advertising and subscription revenues through the launch of new and innovative programming.”
Speaking about the outlook of the business, Goenka continued, “While competition remains high in the Indian television industry, we remain true to our values by bringing innovative and high quality entertainment to our audiences. Our efforts are to continue in this journey and entertain audiences all over the world. We believe that by delivering excellent content we can benefit from monetizing revenues from an advertising and subscription standpoint.”