Television

Zee News net profit Rs 93 million

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MUMBAI: Zee News Limited (ZNL) today reported nine months revenues of Rs 1,665 million representing a 39 per cent growth over the corresponding period in the previous fiscal, compared on proforma numbers.

Overall net profit stood at Rs 93 million.

Subhash Chandra, chairman, stated, "Zee News Limited finished the nine months with a good performance, highlighted by strong advertising revenue growth of 54 per cent and robust operating profit growth of 179 per cent. We believe that Zee News Limited has the potential to grow into a media giant with a regional focus."

"We are extremely pleased to see the steady steps towards digitization of the Indian cable and satellite industry. CAS has been successfully implemented in the notified areas of Mumbai, Delhi and Kolkata. With more subscribers opting for digital services even in other parts of the country, it will give a big boost to our subscription revenues in the near future. All these have extremely positive and long term impact on our business given that most of our channels are pay." Chandra added.

Commenting on the restructuring exercise, Chandra continued, "The restructuring exercise for ZNL is now complete. ZNL is ready to exploit the vast emerging opportunities and will deliver long term shareholder value."

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