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Zee Media net profit dips 25% to Rs 7.38 crore in Q1FY18

Zee Media Corporation (ZMCL), which runs television news channels Zee News and Zee Business among others, has reported consolidated revenue of Rs 114.45 crore for the quarter ended June 30, 2017 (Q1 FY18).  This represents a growth of 9.7% from Rs 104.32 crore in the same quarter last year. Note recently, Zee said it is merging its digital media and entertainment business undertakings of Zee Digital Convergence Ltd, including the Ditto TV and Ozee businesses, vesting it with the parent company ZEEL. As such, digital revenues of these channels will not be reported by the company. The media conglomerate’s profit after tax (PAT) declined by 25% YoY at Rs 7.38 crore during the quarter, from Rs 9.85 crore in Q1FY17. The company posted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs 25.22 crore, registering a growth of 14.4% from Rs 22.04 crore in the same quarter last year. Revenue streams: While advertising revenue grew by 16.7% with Rs 101.87 crore for the quarter, the subscription revenue declined by 29% at Rs 10.99 crore as compared to 15.48 crore in Q1 last year. Business Highlights: -Zee News reached 194.5 million viewers across the country during the quarter. -Zee Business reached 20.9 million viewers as on June, 2017. -WION, ZMCL’s global News channel which was launched in August 2016, has reached 5.1 million viewers. -India 24x7 was re-launched as Zee Hindustan, the channel reached 126.7 million viewers. Mergers and Acquisitions -In October last year, ZMCL announced the demerger of its print media business…

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