Zee Media Q3 operating income up 18.3% at Rs 184.3 cr due to strong ad revenue growth
The company reported a net profit from continuing operations of Rs 34.45 crore as against a net loss of Rs 181.87 crore
Zee Media Corporation's operating revenue for the quarter ended 31st December has increased by 18.3% to Rs 184.3 crore from Rs 155.9. crore in the corresponding quarter of the previous fiscal.
Advertising revenue for the quarter was up 20.5% at Rs 1,73.2 crore from Rs 143.7 crore. Subscription revenue remained muted at Rs 96.6 crore compared to Rs 97.4 crore. Other sales and services revenue declined 39.3% to Rs 1.47 crore from Rs 2.43 crore.
EBITDA increased by 34.4% to Rs 68.37 crore in Q3 FY21 from Rs 50.87 crore in Q3FY20. EBITDA margin increased to 37.1% in Q3 FY21 from 32.6% in Q3 FY20. The company reported a net profit from continuing operations of Rs 34.45 crore as against a net loss of Rs 181.87 crore.
The company's operating expenditure increased by 10.5% to Rs 116 crore in Q3 FY21 from Rs 105 crore in Q3FY20. Employee benefits expenses increased by 17.4% to Rs 44.65 crore from Rs 38 crore. Marketing, Distribution, and Business Promotion Expenses more than doubled to Rs 16.55 crore from Rs 8.09 crore.
Zee Media comprises 14 news channels including 1 Global, 3 National, and 10 Regional channels. WION app got launched in the UK market on 14th November. The channel is now available on digital platforms – mobile, tablets, and smart TV sets. WION further expanded its global footprint and got launched in West Asia in mid-December.
The company noted that its digital news portfolio continues to witness rapid growth across the properties. The language news properties spanning 16 brands in 12 languages received 1.7 billion views in Q3FY21 compared to 0.8 billion views in Q3FY20. Monthly Average Users (MAUs) grew from 58.2 million in Q3FY20 to 108.1 million in Q3FY21.
Digital business news offering Zeebiz.com grew to 92 million page views during the quarter compared to 64 million page views in the same quarter previous year. MAUs remained flat at 14.4 million users.
Wionews.com, Zee's Global English news platform, grew more than 6 times to 67.7 million page views compared to 10.3 million page views in the same quarter previous year. MAUs also grew from 0.4 million in Q3FY20 to 5.5 million in Q3FY21.
Instagram, LinkedIn, Twitter, Facebook & Youtube