Zee News Q1 net up 49.9 % at Rs 95 million

MUMBAI: Zee News has posted a standalone net profit of Rs 95 million for the quarter ended 30 June 2008, up 49.9 per cent as compared to Rs 63.7 million in the corresponding quarter last fiscal.

During the period, the company’s standalone revenue grew 47.2 per cent to stand at Rs 1.1 billion as against Rs 744.5 million in the year-ago period.

Advertisement revenue fetched Rs 858 million, up 44.8 per cent from Rs 592.4 million. There has been a surge of 55 per cent in subscription revenue to touch Rs 212 million from Rs 136.5 million.

Total expenditure has increased 47.2 per cent to Rs 921.1 million in the first quarter of FY 09.

Zee News Subhash Chandra chairman says, “New business comprising Zee Telugu, Zee Kannada and Zee 24 Taas performed as projected and delivered close to 170 per cent growth in operating revenue as compared with the corresponding quarter last fiscal. Our regional properties continued to gain ground with Zee Marathi and Zee Bangla garnering higher channel share.”

Zee News MD Laxmi Narain Goel says, “Amongst regional properties Zee Marathi and Zee Bangla scaled new heights while Zee Telugu and Zee Kannada are firmly on track to break even.”

Zee News CEO Barun Das adds, “To further drive the performance of our Hindi business channel, we are planning a re-launch of Zee Business in the coming months.”

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