Zee Media Corporation slips into red in 3Q2019

Zee Media Corporation has reported a consolidated net loss of `181.87 crore in the third quarter ended December 2019 as against net profit of `27.20 crore during the previous quarter ended December 2018. Sales declined 19.73 percent to `155.91 crore in the quarter ended December 2019 as against `194.22 crore during the previous quarter ended December 2018.

Advertising revenue in the quarter stood at `143.74 crore, down 18.1 percent from `175.51 crore in the corresponding period last fiscal. Subscription revenue was also down 25.1 percent at `9.74 crore as compared to `13.01 crore in the year-ago period. Total expenses during the third quarter stood at `132.73 crore as compared to `155.16 crore in the same period last fiscal.