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Zee 2003-04 net rises 23% to Rs 117 crore

16-April-2004
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Zee 2003-04 net rises 23% to Rs 117 crore

Zee Telefilms, a BS 200 company, has posted a 36.9 per cent increase in net profit at Rs 44.59 crore for the quarter ended March 31, 2004, compared with a net profit of Rs 32.57 crore in the corresponding period of the previous year. Total sales for the last quarter of the fiscal year 2003-04 stood at Rs 174.38 crore against Rs 133.46 crore in the previous year, up 30.6 per cent.

The company reported a net profit of Rs 116.97 crore for the year ended March 31, up 23.46 per cent from Rs 94.74 crore in the previous year. Total sales increased to Rs 540.21 crore from Rs 479.56 crore.

The company attributed its performance to the healthy growth in advertisement as well as pay revenue. While the ad revenue of Zee Telefilms (including the subsidiary companies) increased by 6 per cent to Rs 183.6 crore (Rs 173.2 crore), the overall subscription revenue (international and domestic) was up 14 per cent at Rs 157.6 crore (Rs 138 crore).

Subhash Chandra, chairman & managing director, Zee Telefilms, said in a press release: “The fourth quarter witnessed a continued recovery in advertising business. This is in line with our expectations and was achieved despite diversion of advertising spend to cricket. Our cost management, manpower rationalisation and programming initiatives have continued.”

“We have also made an aggressive push into the modern broadcasting and distribution platform of HITS for CAS and DTH,” Chandra added. The company managed to reduce its staff cost from Rs 7.43 crore to Rs 6.2 crore during the quarter. Financed cost decreased to Rs 7.86 crore (Rs 9.78 crore).

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