Zee Media Corporation (ZMCL), which runs television news channels Zee News and Zee Business among others, has reported consolidated revenue of Rs 159 crore for the quarter ended December 31, 2017 (Q3FY18). This represents a growth of 44,8 % from Rs 110 crore in the same quarter last year.

The media company’s profit after tax (PAT) increased by 22.5 % YoY to Rs 12 crore during the quarter, from Rs 10 crore in Q3FY17. The company posted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs 37.4 crore, registering a growth of 76.4% from Rs 21.2 crore in the same quarter last year.

While advertising revenue grew by 46.5% YoY to Rs 144 crore for the quarter, the subscription revenue grew by 26.6% at Rs 12 crore as compared to Rs 9.2 crore in Q3 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.

E-commerce: During the quarter, Zee Media started an e-commerce site called EZ-Mall. 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. ZMCL reported revenues of Rs 92.1 lakhs in Q3FY18, jumping from Rs 8.8 lakh in the last quarter. The company also posted loss of Rs 8.6 crore in this segment.

Download: Financials and Press release