Television

Zee Media Q2: posts 76 per cent growth in ad revenues

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MUMBAI: Zee Media Corporation (ZMCL) has reported a 57.9 per cent rise in its operating revenue (Total Income from Operations – TIO) in Q2-2015 to Rs 131.12 crore from Rs 83.02 crore in the corresponding quarter last year (Q1-2014) and a one per cent drop than the Rs 133.46 crore reported in the trailing quarter (Q1-2015).



The Company posted a 76 per cent growth in its advertising revenue to Rs 93.14 crore (71 per cent of TIO) in Q2-2015 as compared to Rs 52.92 crore in Q2-2014 and 16 per cent rise from the Rs 80.1 crore in Q1-2015. The ad revenue from existing channels reported a 42 per cent rise at Rs 68.58 crore versus Rs 48.28 crore in the corresponding quarter last year while the ad revenue from new channels posted a 62 per cent fall at Rs 2.52 crore as compared to Rs 6.64 crore in Q2-2014.



The subscription revenue for the company grew by 12.8 per cent to Rs 28.07 crore in the current quarter versus Rs 24.90 crore in Q2-2014. The subscription revenue from the existing channels at Rs 24.62 crore was 1.1 per cent less than the Rs 24.90 crore in Q2-2014.



The media corporation posted a Rs 12.8 crore loss in the current quarter as compared to Rs 14.57 crore loss in Q1-2015 and a profit of Rs 4.27 crore in the corresponding quarter last year (Q2-2014).



Zee Media posts revenue from two segments: print and television.



For television business, the company reported total revenue of Rs 98.56 crore, 51 per cent less than the Rs 202.43 crore in Q2-2014 and 5 per cent less than Rs 103.87 crore in Q1-2015.



While for the print business, it posted total revenue of Rs 32.59 crore for Q2-2015 which was 47.5 per cent below the Rs 62.18 crore reported in Q2-2014 and 10 per cent more than Rs 29.59 crore, the total revenue in Q1-2015.



The total expenditure for the company in Q2-2015 rose 65.5 per cent at Rs 125 crore from Rs 75.54 crore. The total expenditure for the television segment was reported at Rs 88.05 crore, while for the print segment it was at Rs 36.95 crore in Q2-2015. The total expense for the existing channels is 11.2 per cent at Rs 75.41 crore in Q2-2015 from Rs 67.84 crore in Q2-2014 while for the new channels; the expenditure has been reported at Rs 12.65 crore in Q2-2015, 64.2 per cent higher than the Rs 7.7 crore in Q2-2014.



The cost of goods and operations for the current quarter increased 70.6 per cent at Rs 29.02 crore (23.2 per cent of TIO) versus Rs 17.01 crore (22.5 per cent of TIO) in Q2-2014.



The employee cost for the quarter was reported at Rs 41.67 crore (33.3 per cent of TIO), 68.97 per cent more than the Rs 24.66 crore (32.6 per cent of TIO) in Q2-2014.



The company posted its other expenses at Rs 54.31 crore (43.5 per cent of TIO) which was 69.34 per cent per cent more than the Rs 33.87 crore (44.9 per cent of TIO) in Q2-2014.



The EBITDA for the company fell 18.2 per cent at Rs 6.12 crore in Q2-2015 versus Rs 7.48 crore in Q2-2014. The EBITDA for the existing channels have been reported at Rs 20.62 crore. For the new channels EBITDA is at a loss of Rs 10.13 crore in the current quarter versus a loss of Rs 3.06 crore in Q2-2014. The EBITDA for the existing channels is up by 95.6 per cent as compared to Rs 10.54 crore in Q2-2014.



Speaking about the earnings for the current quarter, ZMCL non-executive chairman Subhash Chandra said, “Even as GDP growth in the second quarter is likely to be lower than that in the first quarter of this financial year, domestic industry is likely to witness improved margins which help in developing the investment climate in the country. With India emerging as the only country in the BRICS block to pick up a growth momentum, foreign investors are expected to inject the much needed funds into the system. The honorable Prime Minister’s recent visit to Japan and the US are also likely to augment the same. The mood of public as well as business confidence has improved in general. Providing further buoyancy to the economy is the new hope on the horizon that inflation may finally start softening on the back of steady fall in international crude oil prices and easing of food inflation in the second quarter. A vibrant economy, helped by government’s policy push, will benefit the media and entertainment industry in the mid to long run.”



The company reached 146.7 million viewers across India and continues to be the largest news network riding on the strength of its two national, eight regional news channels, DNA newspaper and its digital platforms – zeenews.com, dnaindia.com, Facebook, YouTube and Twitter, the press release stated.

  Click here for Financial Statement

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