Zee Media op EBITDA, ad revenue up in FY 2019

Without provision for impairment charges the company’s profit is Rs 55.82 crore less taxes

BENGALURU: The Essel group’s new media company Zee Media Corporation Ltd reported a loss of Rs 62.14 crore for the year ended 31 March 2019 (FY 2019, year or period under review) as compared to a profit after tax (PA ) of Rs 27.84 crore. If the one-time impairment charges towards Diligent Media were to be neglected, the company would have reported a profit of Rs 55.82 crore less taxes.

Zee Media reported 19.8 percent higher revenue from operations for the period under review at Rs 686.92 crore as compared to Rs 573.48 crore in FY 2018. Total revenue for fiscal 2019 was 20 percent higher at Rs 698.58 crore as compared to Rs 582.36 crore in FY 2018. Operating EBITDA grew 30.6 percent in FY 2019 at Rs 173.64 crore (25.3 percent margin of operating revenue) as compared to Rs 132.95 crore (23.2 percent margin of operating revenue) in the previous year. Further, the company has reported 20.7 percent growth in advertisement revenue for FY 2019 at Rs 616.13 crore as compared to Rs 510.60 in the previous fiscal.

The company explains in the financial statements filed with the bourses: The company's investment of Rs. 436.27 crore in 436,26,56,265 – 6 per cent non-cumulative non-convertible redeemable preference shares of Re 1 each of Diligent Media Corporation Ltd (DMCL) redeemable at par on 1 November 2036, was tested for impairment as per Ind- AS 109 - "Financial Instruments" as at 31 March 2019. Based on the valuation carried out by an independent valuer, an amount of ~ Rs 103.35 crore has been provided towards impairment in the value of company's investment in DMCL and recognised during the quarter/year ended 31 March 2019 and shown as exceptional items. While the management expects timely redemption by DMCL, the said impairment has been made as per Ind-AS 109.

On approval of the shareholders, Zee Media had sold Ez-Mall Online Ltd. Ez-Mall Online Ltd ceased to be a subsidiary with effect from 30 June 2018 and gain on disposal of above investments of ~ Rs 41.21 crore has been recognised during the year under review. Considering the one-time impairment charges on account of Diligent Media and gain on disposal of Ez-Mall Online Ltd, the net effect was Rs 62.14 crore which has been recorded as exceptional items by Zee Media in its financial statements.

Zee Media’s total expenditure for FY 2019 was up 17.6 percent at Rs 586.88 crore as compared to Rs 499.07 crore in FY 2018. Operating costs were up 24.4 percent in FY 2019 at Rs 113.77 crore as compared to Rs 91.47 crore in the previous year. Employee Benefit Expenses in FY 2019 at Rs 152.19 crore were up 19.4 percent as compared to Rs 127.45 crore in FY 2018. Finance costs in the period under review were 2.4 percent up at Rs 18.01 crore as compared to Rs 17.58 crore in the previous year. Marketing, distribution and business promotion expenses in FY 2019 were up 26.1 percent at Rs 81.61 crore as compared to Rs 64.92 crore in FY 2018. Other Expenses in FY 2019 were up 5.6 percent at Rs 165.71 crore as compared to Rs 156.89 crore in FY 2018.

Latest Reads
Star ReImagine Awards 2019: Netflix wins 'best creative digital', Bisleri bags 'best creative TV'

After a successful first edition, the Star Re-Imagine Awards returned this year in a bigger and better avatar with Bisleri (Best Creative TV) and Netflix (Best Creative Digital) bagging top honours. Showcasing excellence in creativity (Best Creative on TV and Best Creative on Digital), these...

Television TV Channels GECs
BARC week 19: HUL, Lizol maintain top positions in advertiser & brand categories

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for the period between 04 May 2019 and 10 May 2019.

Television TV Channels Viewership
News18 India brings 100 hours of General Elections coverage; non-stop programming from May 19th till 23rd

As the last phase of the fiercely contested Lok Sabha elections draws to a close, News18 India will bring to you, “100 Ghante ki Maha Coverage”. The non-stop reportage will start from 19th May and will run until the Counting Day on 23rd May, when the results will be declared.

Television TV Channels News Broadcasting
Avinash Kaul promoted to broadcast CEO in Network18 restructuring

In a new development, the Network18 group has elevated some of its executives to new positions with Avinash Kaul being promoted to Network18 broadcast CEO.

Television TV Channels News Broadcasting
e-Digital Partners with MyBox to bring Amazon Alexa Services in Set-Top Boxes

e-Infrastructure and Entertainment India Pvt Ltd.(e-Digital), one of South India’s largest Multi System Operator (MSO) today announced the support for Amazon Alexa Voice Service on their existing set-top boxes (STB).

Television TV Channels News Broadcasting
ShemarooMe app now available on Apple TV

India’s leading content house Shemaroo Entertainment Limited today announced that its OTT platform ShemarooMe will be now available on Apple TV.

Television TV Channels Music and Youth
Online sensation Lisa Mishra signs exclusively with VYRL Originals

Lisa Mishra, a Chicago based artist and an online sensation is now exclusively signed with VYRL Originals for non-film music.

Television TV Channels Music and Youth
Travelxp 4K HDR partners with Deutsche Telekom Germany

‘One world and no boundaries’ has always been the core philosophy of Travelxp.

Television TV Channels Factual @ Discovery
News18 Network Brings the Biggest Exit Poll for General Elections

As the political battle for the most fiercely contested General Elections draws to a close, News18 Network with IPSOS as research partner will present the largest Exit Poll to its viewers.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories