Zee Media Corporation reported operational revenues of Rs 194.2 crore in Q3FY19, which is a 22.6% YoY increase from Rs 158.3 crore in the same quarter last year (Q3FY18), and 15% higher over the preceding quarter from Rs 168.6 crore.
- Advertising revenue: Rs 175 crore, up by 21.9% YoY
- Subscription revenue: Rs 13 crore, up by 10.8% YoY
The company’s net profit doubled from Rs 12 crore in Q2FY18 to Rs 27.2 crore this quarter. Over the preceding quarter, the group’s net profit increased by 58% from Rs 17.2 crore.
Expenses: Operating expenses grew by 21.3% YoY to Rs 136 crore this quarter from Rs 112.2 crore in Q3FY18, largely on the back of 3 news channels launched last year: Zee Salaam, Zee 24 Kalak, Zee Uttar Pradesh Uttarakhand.
EBITDA grew 26% YoY to Rs 57 crore from Rs 46 crore in Q3FY18.
Notes from digital, sale of Ez Mall
Digital: Zeenews.com got 665 million page views this quarter, and Zeebiz.com received 75 million page views this quarter, as compared to 5 million page views in Q3FY18. This data is as per Google Analytics.
Note that Zee Media now operates only in broadcast business as it sold its e-commerce business Ez Mall Online Ltd to Altilis Technologies, a promoter group entity for Rs 8.6 crore. Zee Media gained Rs 41.2 crore from the sale of Ez Mall, which ceased to be a subsidiary of Zee Media starting June 30, 2018. Zee Media now operates 14 news channels: 1 global (Wion), 2 national and 10 regional news channels.
- Zee Media claims that its 14 news channels reached 350 million viewers this quarter
- Zee Akash News Pvt Ltd is now a wholly-owned subsidiary of the company, starting June 1, 2018
- Zee News reached 198 million viewers this quarter
- Zee Hindustan reached 158.8 million viewers this quarter