wordpress blog stats
Connect with us

Hi, what are you looking for?

Zee Media net profit down 60.6% to Rs 3.79 cr; Invests Rs 4 cr in e-commerce venture

We missed this earlier

Zee Media Corporation (ZMCL), which runs television news channels Zee News and Zee Business among others, has reported consolidated revenue of Rs 124.6 crore for the quarter ended September 30, 2017 (Q2FY18).  This represents a growth of 23.9 % from Rs 100.5 crore in the same quarter last year.

The media company’s profit after tax (PAT) declined by 60.6% YoY to Rs 3.79 crore during the quarter, from Rs 9.62 crore in Q2FY17. The company posted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs 21.3 crore, registering a decline of 2.9% from Rs 21.94 crore in the same quarter last year.

While advertising revenue grew by 31.2% YoY to Rs 111.1 crore for the quarter, the subscription revenue declined by 16.8% at Rs 11.73 crore as compared to Rs 14.09 crore in Q2 last year.

Digital business 

Video streaming: Note that 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. In ZEEL’s results, the company mentioned OZEE saw an average of more than 115 million video views per month during the quarter.

E-commerce: During the quarter, Zee Media started an e-commerce site called EZ-Mall. During the quarter, the company invested approximately Rs 4 crore in EZ-Mall. The e-commerce company is a wholly-owned subsidiary of Zee Media. Note that Zee Media Corp. also entered the television shopping business by acquiring a stake in two India Today Group companies—Today Merchandise Pvt. Ltd (TMPL) and Today Retail Network Pvt. Ltd (TRNL) in February 2016.

Download: Press release

You May Also Like

News

Netflix’s two day StreamFest in December 2020—where users in India could practically watch Netflix’s entire catalogue for free—brought millions of users to the service,...

News

Media company HT Media Limited posted a consolidated operational revenue of ₹341 crore, which is down 40% YoY and up 31% over the previous...

News

E-commerce marketplace IndiaMART InterMESH Ltd. reported a 34.5% increase in traffic on a year-on-year (YoY) basis, growing to 253 million in the quarter ended...

News

HDFC Bank reported a net profit of ₹8,758.3 crore, for the October to December quarter of 2020, up by 18% from ₹7416.5 crore in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ