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Zee Media’s profit falls by 76.2% YoY in Q4FY18; Ashok Venkatramani named new MD

Zee Media Corporation Limited (ZMCL) has reported consolidated revenues of Rs 1,797.5 million for the fourth quarter of the fiscal year 2018 (Q4FY18), recording a growth of 33.2% YoY. In the quarter, the network’s expenditure was of Rs 1,595.3 million, an increase of 59% from the same quarter last year (YoY).

EBITDA or operating profit, which is a key performance indicator, for Q4FY18 was Rs 202.2 million, falling by 41.8% YoY. For the quarter, profit after tax (PAT) stood at Rs 44.8 million, falling by a massive Rs 76.2% as compared to Q4FY17.

Revenue from advertising, which is the biggest contributor to the company, grew by 22.9% YoY, to Rs 1536.8 million for the quarter. Subscription revenue was Rs 130.3 million and grew by 43.1%.

Viewership metric

  • Zee Media comprises of 14 TV channels, of which one is global, three national and 10 regional channels.
  • Zee News, the network’s flagship news channel, reached 198.1 million viewers in the quarter. The company says that Zee News achieved a 29% growth during the financial year.
  • Zee Business, our Business News offering, reached 17.5 million viewers.
  • WION, a newly launched channel by the company, which is pitched as India’s first global news channel, reached over 5.9 million viewers.
  • Bengali regional channel Zee 24 Ghanta had over 30 million viewers, Marathi channel Zee 24 Taas had more than 40 million viewers.
  • Zee Punjab Haryana Himachal reached 8.3 million viewers.
  • Gujarati channel Zee 24 Kalak reached more than 10 million viewers, while Odiya news channel Zee Kalinga New touched 10.8 million viewers according to Zee Media.

Leadership change

Zee Media appointed Ashok Venkatramani as the new managing director for the company. Venkatramani will begin his stint starting July 1 and will hold the position for at least three years, the company said in a statement.

Most recently, he had joined Chrome Data Analytics & Media as consulting director in July 2017. Venkatramani has worked as the CEO of ABP News until 2016, where he managed the transition of the channel from Star to ABP. His stint with ABP was 8-year-long.

Ashok started his career with Unilever, having been with them for 19 years, working on the foods and personal care side of the business in various sales, marketing and general management roles. He was the Vice President and Business Head – Skincare for Unilever in India till 2008.

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Venkatramani was also formerly the President and Director on the Board of the News Broadcasters Association of India and chaired their HR and Sales sub-committees. He is currently a part of the Man Com of the International Association of Advertisers (IAA-India Chapter). Ashok had also served as a member of the Digitization Task Force appointed by Government of India.

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