Zee Media reports higher ad revenue growth in Q3 2018

BENGALURU: The Essel group’s news arm, Zee Media Corporation Ltd (ZMCL), reported higher revenue and profit after tax for the quarter ended 31 December 2017 (Q3 2018, the quarter under review) as compared with the corresponding year ago quarter. ZMCL’s revenue from operations increased by 44.8 per cent year-on-year (yoy) in Q3 2018 to Rs 159.22 crore from Rs 109.96 crore in Q3 2017.

ZMCL’s advertising revenue for Q3 2018 increased by 46.5 per cent yoy to Rs 143.95 crore from Rs 98.24 crore. Subscription revenue increased by 26.6 per cent yoy during the quarter under review to Rs 11.74 crore from Rs 9.27 crore. Other sales and services revenue grew by 44.4 per cent during the quarter under review to Rs 3.53 crore from Rs 2.44 crore. It may be noted that revenue from ZMCL’s e-commerce business ( grew to Rs 0.92 crore from Rs 0.09 crore in the immediate trailing quarter.

ZMCL reported profit of Rs 12.19 crore in Q3 2018 as against loss of Rs 5.74 crore in Q3 2017. ZMCL’s EBIDTA increased by 76.5 per cent yoy to Rs 37.39 crore (23.5 per cent margin on operating revenue) from Rs 21.20 crore (19.3 per cent margin).

ZMCL’s total expenditure in Q3 2018 increased 37.5 per cent yoy to Rs 137.09 crore from Rs 99.72 crore. Employee benefits expense in the quarter under review increased 58.1 per cent yoy to Rs 36.50 crore from Rs 23.09 crore in Q3 2017. The company’s distribution expenses in Q3 2018 more than doubled (increased 102.3 per cent) yoy to Rs 16.81 crore from Rs 8.31 crore.

Advertising and publicity expenses in the quarter declined by 85 per cent yoy to Rs 1.90 crore from Rs 12.69 crore. Operating costs in Q3 2018 increased by 34.9 per cent yoy to Rs 28.15 crore from Rs 20.86 crore. Other expenses in Q3 2018 rose by 61.5 per cent yoy to Rs 38.46 crore from Rs 23.82 crore.

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