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Zee News Ltd Q3 net up 26.7% on revenue uptick
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Zee News Ltd Q3 net up 26.7% on revenue uptick - 24-January-2010, 07:18

Zee News Ltd Q3 net up 26.7% on revenue uptick

Zee News Ltd (ZNL) has posted a 26.7 per cent increase in its consolidated net profit for the quarter ended 31 December due to an uptick in overall revenues.
ZNL's third-quarter net profit stood at Rs 191.5 million compared to Rs 151.2 million a year ago.
For the quarter under review, total income of the company jumped 19.3 per cent to Rs 1.71 billion, while expenses stood at Rs 1.34 billion (for details see table).
Says ZNL chairman Subhash Chandra, “To further build on its existing strength, ZNL now is on the path to consolidate its news operations and unlock tremendous cost and synergy benefits going forward. Zee News Limited has with it all essential pre-requisites that would make it a news powerhouse going forward and the next media explosion driven by digitization would surely help this process catch up speed.”
The company announced that its advertising revenue for the quarter has seen a 25.6 per cent upward swing to Rs 1.40 billion, while subscription revenue rose 18.8 per cent to Rs 280.6 million from the year-earlier period.
The expenses of ZNL rose 18.7 per cent to Rs 1.34 billion in the quarter (see table for details).
ZNL CEO Barun Das said, “At the exit of the quarter, ZNL had already emerged as the No. 1 news network in the country in viewership terms. This is a significant achievement and going forward, it is going to be the key growth driver of the company.”
On the standalone basis, the net profit of ZNL for the quarter stood at Rs 177.93 million, up from Rs 153.71 million y-o-y.
The income from operations stood at Rs 1.65 billion (from Rs 1.39 billion), while expenses were Rs 1.33 billion (Rs 1.11 billion).
The company's new businesses - Zee Telugu, Zee Kannada, Zee 24 Taas, Zee Tamil, Zee Talkies, Zee 24 Gantalu and Zee News Uttar Pradesh - have incurred operating losses of Rs 41.92 million in the quarter ended 31 December.
Also, in October, pursuant to a strategic partnership approved by the board earlier, ZNL acquired 435,000 equity shares, or 12.82 per cent, in Akash Bangla, the company that owns and operates the Bengali infotainment channel Akash Bangla.
Meanwhile, Zee Akaash News, a subsidiary of the company (60 per cent equity holding) that operates Bengali news channel 24 Ghanta, has made an operating profit of Rs 22.42 million in the quarter.
The company also disclosed that promoters have pledged 39.54 per cent of their holding in the company, amounting to 21.41 per cent of the total paid up capital.
ZNL shares ended Friday at Rs 62.70, up 0.32 per cent from the previous day's close.
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