Television

Zee Telefilms Q3 net profit up 4.5 %

MUMBAI: Zee Telefilms' net profit rose 4.52 per cent to Rs 384.10 million for the quarter ended 31 December 2004, as against Rs 367.50 million a year ago. Total income increased to Rs 1937.80 million, up from Rs 1793.80 million.

The group's consolidated net profit, however, declined 8.67 per cent to Rs 823.70 million for the quarter ended 31 December 2004, compared to Rs 901.90 million a year ago. Total revenue decreased to Rs 3390.10 million, down from Rs 3745.70 million.

 

 

Highlights

    Ad revenues Rs 1,796 million; down 2.5 %

    Total subscription revenue Rs 1,624 million; up 8.2 %

    Domestic subscription revenue, including DTH, Rs 707 million; up 31.3 %

But excluding Padmalaya, the consolidated revenues were at Rs 3,550 million, representing a marginal one per cent growth over the corresponding period in the previous fiscal (excluding Padmalaya).

The consolidated operating profit, excluding Padmalaya, stood at Rs 1,093 million, representing a 9 per cent decline over the same period last year (excluding Padmalaya). Profit before tax for the third quarter of the current fiscal was Rs 1,103 million, a decline of 5 per cent as compared to the corresponding quarter last year. Net profit stood at Rs 865 million, higher by one per cent.

The figures are after consolidating the financials of ETC Networks, without including the financials of Padmalaya Telefilms as Zee's holding in Padmalaya has dropped below 50 per cent. In the corresponding quarter last year, Padmalaya had contributed Rs 224 million to revenues and Rs 65 million to operating profits. During this quarter, Rs 160 million in revenue and Rs 72 million in operating profits, previously consolidated in 1QFY2005, have been reversed from the 3Q FY2005 published financials, Zee explained in an official release.

Zee's performance this quarter was hit by a 2.5 per cent decline in advertisement revenue to Rs 1,796 million for the third quarter ended 31 December 2004, as compared to Rs 1,842 million of the corresponding period last fiscal. Ad revenues contributed 53 per cent to the total revenue for the third quarter this fiscal, compared to 49.2 per cent a year ago.

Subscription revenue, however, grew 8.2 per cent, standing at Rs 1,624 million, as against Rs 1,502 million. For Q3-05, 47.9 per cent of the total revenues came from subscription as compared to 40.1 per cent of the corresponding period last fiscal. Domestic subscription revenue, including DTH, was Rs 707 million for the third quarter ended 31 December, 2004, an increase of 31.3 per cent as compared to the corresponding period last fiscal.

Overall, the programming and transmission cost went down 10.7 per cent compared to the corresponding period last year. Other costs, including marketing and administrative costs have declined marginally. As a result, total expenses were lower by 4.4 per cent. Operating profit has recorded a drop of 19.5 per cent to Rs 1,021 million, while operating profit margin was at 30.1 per cent, as compared to 33.9 per cent achieved during the corresponding quarter last year.

Zee Telefilms has appointed Puneet Goenka as an additional and whole-time director of the company for five years.

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