Zee News Ltd Q4 revenue up 47 % at Rs 690 million

MUMBAI: Zee News Limited (ZNL) has posted a standalone fourth quarter revenue of Rs 690.3 million, representing a 47 per cent growth as compared to the proforma numbers for the corresponding quarter last fiscal.

The operating profit for the quarter stood at Rs 8.5 million, after expensing of initial investments in new businesses, amounting to Rs 154 million. The corresponding quarter last fiscal, as per proforma numbers, showed a loss of Rs 44 million.

Profit before tax for the quarter ended 31 March 2007 was Rs 21.2 million while net profit was Rs 13.1 million, the company stated in a release.

Consolidated operating revenues for the fourth quarter stood at Rs 710.6 million while consolidated operating loss was Rs 9.2 million.

For the fiscal ended 31 March 2007, ZNL's revenues grew 41.5 per cent to Rs 2.36 billion.

Commenting on the results Zee Group chairman Subhash Chandra said, "ZNL has shown robust advertising and subscription growths of 37 per cent and 45 per cent respectively during the quarter While the existing businesses of the company have sustained the growth momentum, the new businesses are also showing encouraging viewership trends. This should stand us in good stead for the future. Digitalization should also enable our channels to garner good subscription revenues in future."

Added Zee News Ltd CEO Harish Doraiswamy, "We are pleased to report that excluding new business losses, our operating margins have improved from 18 per cent last year to 30 per cent this year."

Ad revenue grows 37 per cent

ZNL?s advertising revenues increased to Rs 467.2 million, a 37 per cent growth as compared to the corresponding fourth quarter proforma numbers of last fiscal. "This growth in advertising revenues was a result of better yield and inventory utilization," the company said.

Subscription revenues grew 45 per cent at Rs 146.8 million. "Direct-to-home (DTH) services contributed significantly to the growth in subscription revenues," Zee News said.

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