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MUMBAI:
Zee Entertainment Enterprises Limited (Zeel) has posted a
consolidated net profit of Rs 1.61 billion for the quarter
ended 30 June 2008, up 98 per cent as against Rs 812.70 million
in the corresponding quarter last fiscal.
During
the period, the Zeel's consolidated revenue has seen a growth
of 38 per cent to stand at Rs 5.42 billion as against Rs 3.91.
Advertising revenue has increased 37 per cent to touch Rs
2.79 billion, while subscription revenue fetched Rs 2.15 billion,
up 28 per cent in the first quarter.
During
the current quarter, the domestic revenue stood at Rs 1.05
billion while international revenues are at Rs 1.09 billion
and revenues from direct to home (DTH), already included in
domestic subscription revenues, were Rs 248.9 million.
Other
sales and services which include syndication sales, income
from education business, playout and production services,
events and commission on advertisements and subscription sales
stood at Rs 471 million.
Consolidated
operating profit of Zeel has surged 54 per cent at Rs 1.44
billion as compared to Rs 1.19 billion in the corresponding
quarter last fiscal on a like to like basis.
The
numbers as published are after consolidating the financials
of Taj TV Limited (Taj) and ETC Networks Limited (ETC) and
Zee Turner Limited.
Considering
the impact of the start up losses of Zee Next, amounting Rs
397.8 million, operating profit is showing an increase of
20 per cent.
On
a stand-alone basis, the company's net profit stands at Rs
1.31 billion for the first quarter of FY 09 as compared to
Rs 641.40 million in the year-ago period.
During
the first quarter, the sports business revenue earned Rs 650.2
million a growth of 78 per cent.
Zeel
chairman Subhash Chandra says, "Despite intensifying
competion in the broadcasting arena, the company has displayed
resilience in its TV ratings, leading a handsome advertisement
revenue growth. We believe that even in the event of an economic
growth slowdown, TV broadcasting sector will be relatively
less effected and continue to grow."
Expenditure
of the company has grown 46 per cent from Rs 2.72 billion
to Rs 3.97 billion year-on-year. Overall, the programming
and operating cost has increased to Rs 2.37 billion compared
to the Rs 1.58 billion corresponding period last year. This
includes programming cost of Zee Next, films business Zee
Entertainment Studio (ZES) and events like Zee Cine Awards
2009.
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