Television

Q3-2016: Zee Media reports 3.3% revenue growth; print reports operating profit

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BENGALURU: Zee Media Corporation Limited (ZMCL) reported 3.3 per cent YoY growth in Total Income from Operations (TIO) to Rs 144.46 crore in the quarter ended 31 December, 2015 (Q3-2016, current quarter) as compared to the Rs 131.12 crore in Q3-2015. TIO in the current quarter was 6.1 per cent lower than the Rs 139.84 crore in Q3-2015. The company’s print segment reported an operating profit of Rs 0.98 crore as compared to an operating loss of Rs 3.29 crore in the corresponding year ago quarter.

Notes: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

(2) The figures in this report are consolidated figures unless stated otherwise

Consequently, ZMCL’s EBIDTA in the current quarter increased 24.9 per cent to Rs 20.97 crore as compared to Rs 16.79 crore in Q3-2015. ZMCL’s Television segment EBIDTA for the current quarter however was flat at Rs 19.99 crore as compared to the Rs 20.08 crore in Q3-2015. ZMCL’s EBIDTA in the immediate trailing quarter was much lower at Rs 6.71 crore.

The company reported a lower loss of Rs 1.11 crore as compared to a loss of Rs 10.41 crore in Q3-2015 and a loss of Rs 16.98 crore in the immediate trailing quarter.

The company’s advertising revenue in the current quarter also increased 3.3 per cent YoY to Rs 103.46 crore as compared to Rs 100.13 crore and increased 14.1 per cent QoQ from Rs 90.69 crore. Subscription revenue in Q3-2016 increased one per cent YoY to Rs 30.64 crore from Rs 30.33 and increased 12.5 per cent QoQ from Rs 27.24 crore.

ZMCL’s Television segment reported 6.5 per cent YoY growth in revenue in Q3-2016 to Rs 116.42 crore from Rs 109.32 crore and 16.1 per cent QoQ growth from Rs 100.30 crore. Print segment declined 8.2 per cent YoY in the current quarter to Rs 28.04 crore from Rs 30.55 crore and increased 4.8 per cent QoQ from Rs 26.75 crore.

The company has controlled its total expenditure in Q3-2015, which was almost flat (up by 0.3 per cent) YoY at Rs 123.49 crore as compared to Rs 123.08 crore and was 2.6 per cent more QoQ as compared to Rs 120.33 crore.

Cost of goods and operations in the current quarter declined 7.9 per cent YoY to Rs 32.50 crore as compared to Rs 35.29 crore  and was 3.4 per cent lower QoQ than 33.64 crore. Employee Cost in the current quarter declined 4.1 per cent to Rs 38.15 crore from Rs 39.76 crore and was 1.1 per cent lower QoQ than the Rs 38.60 crore in the immediate trailing quarter.

ZMCL group CEO - news cluster Bhaskar Das said, “With the country emerging as a star performer, media and entertainment industry is also hopeful of riding the growth wave. A double-digit upward swing in ad spends, as per early estimates this year, bodes well for ZMCL, especially when the corporation is charting a clutter bursting path to set itself apart from the commoditised content ecosystem. Our path breaking content propositions, which are finding expression in our evolved programming across channels, are bound to create an unmatched viewer vibrancy that will surely interest the ad vibrant sectors. At ZMCL, we have been quick to adapt to current global trends and tap newer and disruptive opportunities of growth anytime anywhere. A step in this direction is our focus on native communication that has helped us defy industry gravity and diversify our revenue risk. I am hopeful that we will continue to find new avenues of growth and sustain the competitive advantage that we have built over years.”

ZMCL COO Rajendra Kumar Arora added, “ZMCL is an industry pioneer having perfected the art of driving operational efficiencies. It has been our constant endeavour to define and follow processes. As the industry slowly realises the relevance of technology in driving down costs, we at ZMCL have been at the forefront of using cutting-edge technology as an enabler in optimising expenditure. While we are innovatively experimenting with content and investing in it to generate impact, we are confident of maintaining a robust bottomline as we go ahead. The fact that we have been able to garner more

eyeballs will, in near future, also provide an impetus to topline. Our improved EBITDA margins point to synergy in operations.”

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