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ZEE reports lower PAT, net profit in Q1FY14

Advertising revenues for the quarter were Rs 622.1 crore, recording a growth of 17.4%. Zee TV to see at least three new shows in the coming quarter

BestMediaInfo Bureau | Mumbai | July 21, 2014

zeel-newZee Entertainment Enterprises Limited (ZEEL) has reported its financial results for the quarter ending June 2014. According to a press release sent to the stock exchanges, PAT stood at Rs 210 crore, with a margin of 19.3%. The net profit for the corresponding quarter a year ago was Rs 223.87 crore. The net profit however has decreased by 5%.

Operating profit (EBITDA) for the quarter stood at Rs 309.2 crore, a growth of 6.1% over Q1FY14. Consolidated operating revenues for the quarter stood at Rs 1,085.7 crore, a jump of 11.6% compared to Q1FY13.

Advertising revenues for the quarter were Rs 622.1 crore, recording a growth of 17.4% over Q1 FY14. Once again, ZEE has outperformed the industry growth rate which is in low double-digits.

Subhash Chandra Subhash Chandra

"The latest Economic Survey released by the government indicates a gradual recovery in the economy, and is likely to grow in the range of 5.4-5.9% in FY15, overcoming the sub-5% GDP growth of past two years. However, factors like poor monsoon and disturbed external environment may have an adverse impact on the growth recovery. During the quarter, the industry has seen a positive rub-off effect of election spending on TV ad spends. In this backdrop, we expect television media industry to continue on its double-digit growth path," said Subhash Chandra, Chairman, ZEEL.

Chandra added, “Our performance during the quarter reflects the investments that ZEE is making to grow its business and market share. This has been accompanied by a strong improvement in the operating performance of the existing businesses. In a highly competitive space, ZEE continues to build its media assets and in the process continues to create value for the shareholders. We have a strong balance sheet and I am confident that we would take advantage of the growth opportunities ahead of us.”

During the quarter, Zee TV recorded a relative share of 16.9% among the top 6 Hindi GECs. The market share was even better in the primetime band, where Zee TV recorded a relative share of 20%. Zee TV was the No. 2 channel in the genre during the quarter. Meanwhile, new launches planned in the forthcoming quarter include India's Best Cine Stars Ki Khoj, Jamai Raja and Neeli Chhatri Wale among others.

Puneet Goenka, Managing Director and CEO, Zeel, added, "The quarter has been satisfactory for us. The network share is up as compared to the corresponding quarter last fiscal, which has translated into a strong performance on the advertising front, outpacing the industry growth rate yet again. The new channel launched this quarter, Zindagi, has received encouraging response from audiences, advertisers as well as distribution partners. As a result of our consistent performance, we continue to maintain healthy EBITDA margins on our businesses. As a matter of fact, the EBITDA margins on our existing businesses have expanded while we invest in new businesses."

The sports business revenues in the first quarter of FY2015 were Rs 97.6 crore, while costs incurred in the quarter were Rs 96.4 crore.

Info@BestMediaInfo.com

Tags: ZEE
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