Zee Media Corporation Limited (ZMCL), which owns and operates 14 TV news channels, has reported a 21.6% growth in consolidated revenues at Rs 206.9 crore for the first quarter of FY23 against Rs 170.1 crore in Q1 FY22.
Advertising revenue rose 23.7% to Rs 196.5 crore compared to Rs 158.8 crore. Subscription revenue was down 10.2% to Rs 8.93 crore compared to Rs 9.95 crore. Other sales and services were up 6% to Rs 1.5 crore compared to Rs 1.4 crore.
The network incurred an expenditure of Rs 167.1 crore, which is a 33.8% increase over Rs 124.8 in Q1 FY22. Operating costs jumped 58.2% to Rs 36.2 crore from Rs 22.77 crore. Marketing, Distribution, and Business Promotion Expenses increased 6.4% to Rs 19.34 crore compared to Rs 18.18 crore. 6.4%
Operating Profit (EBITDA) was down 12.1% to Rs 39.84 crore from Rs 45.32 crore. The company reported a net profit of Rs 8.19 crore against a net loss of Rs 9.06 crore a year ago.
ZMCL’s TV news channels comprise 1 Global, 4 National, and 9 regional language channels besides five digital channels and 17 digital brands. Exchange4media