consolidated revenues for the quarter fell 11.6 per cent to Rs 700.3
million from Rs 792.6 million in the year before period. The companys
operating expenditure fell 12.4 per cent during the quarter to Rs
621.7 million from Rs 709.4 million a year earlier.
Ebitda stood at Rs 78.6 million in the second quarter compared with
Rs 83.2 million a year earlier.
company said it has established a wholly owned subsidiary in the
name of 24 Ghantalu News Ltd for housing its Telugu News channel
Zee 24 Gantalu and has invested initial capital of Rs
0.5 million in the subsidiary.
the company had decided to shutter Zee 24 Gantalu citing economic
unviability as the reason.
MD Punit Goenka said, The media industry continued to face
slowdown issues in the second quarter especially in the months of
July and August. ZNL always has had subscription revenue stream
supplementing the ad revenues which helps the company counter any
slowdown in the advertising industry. However, we expect that the
advertising would be quite buoyant in the coming quarters.