Zee Media's revenue falls 29.25% in Q3FY23

Zee Media Corporation (ZMCL) on Tuesday reported a 29.25% decline in total revenue. Its revenue stood at Rs 172.52 crore in the quarter ending December 31, 2023. Whereas, its revenue was Rs 243.85 crore in the same quarter of the previous year. 

On a QoQ basis, the company’s revenue fell by 11.8%. Its revenue was Rs 195.59 crore in Q2 of FY23.

The company posted a net loss of Rs 19.16 crore during the October-December quarter of FY23 in comparison to the profit Rs 45.46 crore profit posted in Q3 of FY22, ZMCL said in a regulatory filing. The company’s net loss stood at Rs 12.08 crore in Q2FY23.

Its total expenses were reduced by 11.13% to Rs 132.73 crore in Q3 FY23, in comparison to Rs 149.36 crore in Q3 FY22.

Formerly known as Zee News Ltd, ZMCL is a part of media baron Subhash Chandra-led Essel Group and operates one of the largest news networks with 14 news channels in ten different languages.

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