Zee Q3 profits up 45%
January 21, 2015
Indian media and entertainment company Zee Entertainment Enterprises has reported a 44.5 per cent jump in its net profit for the quarter ended December 31st 2014.
The net profit for the company stood at Rs 308.61 crore (€40.3m) as against Rs 213.59 crore for the corresponding quarter of last year. Total income from operations for the given quarter stood at Rs 1363.72 crore as against Rs 1188.36 crore, last year. Its earnings before interest, tax, depreciation and ammortisation (EBITDA) margin stood at 25.9 per cent and profit after tax (PAT) margin was recorded at 22.5 per cent.
Subhash Chandra, Chairman, Zee, said, “The overall economic sentiment in India continues to remain positive post the formation of the new central government. Our quarterly performance reflects the investments that Zee is making to grow its business and market share. The viewership market share has been strong, which has helped us to continue to grow ahead of the market.”
Zee said that its advertising revenues for the third quarter ended December 31st 2014 grew by 8.5 per cent. The total revenues for the company registered a growth of 14.8 per cent in the said quarter. The advertising revenues for the quarter were at Rs 742.6 crore.
Punit Goenka, Managing Director and Chief Executive Officer, Zee, said, “Television industry had a good quarter as far as ad spends are concerned. The festive season saw robust growth, which moderated slightly post the festive period.”