EBIDTA grew significantly by 606.4 per cent to Rs 147.7 million in this quarter from Rs 20.9 million in the corresponding quarter of the previous fiscal
BestMediaInfo Bureau | Delhi | August 10, 2015
Zee Media Corporation has reported consolidated operating revenues of Rs 1,352.6 million for the first quarter ended June 30, 2015, a growth of 1.3 per cent over the corresponding period of FY15. The network incurred operating expenditure of Rs 1,204.9 million in Q1 FY16, a decline of 8.3 per cent over Rs 1,313.7 million reported in Q1 FY15.
EBIDTA grew significantly by 606.4 per cent to Rs 147.7 million in this quarter from Rs 20.9 million in the corresponding quarter of the previous fiscal.
Total advertising revenues from the television business saw a marginal dip of 0.4 per cent, from Rs 800.1 million in Q1 FY15 to Rs 792.2 million in this quarter. Subscription revenues went up by 23 per cent at Rs 258.4 million in Q1 FY16 from Rs 210.1 million in the corresponding quarter of the previous fiscal.
Dr Subhash Chandra, Non-executive Chairman of the Board, remarked, “With the macro-economic environment promising a brighter future, the media and entertainment sector is expected to use the emerging opportunities – increased ad spends – to chart a robust growth path.”
Dr Bhaskar Das, Group CEO, News Cluster, added here, “Content is indeed the king and customer occupies the centrestage. That’s why we are exploring new areas of innovation, both in form and content, in such a way that media is again established as the fourth pillar of democracy. We seek to improve our understanding and increase our collaboration with the change agents who are creating a positive impact on the development of our country. This, I am hopeful, will help us break the clutter and create meaningful content differentiation in the highly fragmented news TV genre.”
Ashish Kirpal Pandit, CEO, Zee Media, said, “While we are looking at investing to upgrade our content, we remain focussed on maintaining a robust bottomline. As a process driven entity, we have been successful in optimising costs which reflects in the improved EBIDTA margins. We are also trying to gauge the full impact of BARC ratings and how it is going to play out in the future.”