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Q1-10: ZEEL Ad Revenues Fall 13%; Strategic Refocus On Subscriptions

It's another quarter with a QoQ rise in net profits and revenues for Zee Entertainment Enterprises Ltd - profits are up 25.9% to Rs. 913.2 million, though down 43% from Q1-09. Revenues rose 50.2% to Rs. 4759.3 from Q4-09. Expenses were controlled and fell by 9.1% to Rs. 3664.2 million. Operating profit margin stood at 24.6% and EBITDA Rs. 1170 million. In the quarter, the company redeemed  Foreign Currency Convertible Bonds (FCCBs) aggregating  $3.79 million. Details: Release | Financials Ad Revenues Fall 13% QoQ; Change in Biz Model To Subscriptions Though the company rallied its operating efficiencies, attempted content improvement and balance sheet management (to reduce debt during the quarter and consequently interest costs) , it was unable to make up for the adverse effect of the slump in advertising revenues. Revenues from ads fell 13% from Q4-09 and by 29%…

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