Zee net up 5%

BS 200 SCORECARD

Zee Telefilms has posted a net profit of Rs 38.41 crore for the quarter ended 31 December 2004 compared with Rs 36.75 crore in the corresponding quarter previous year, up 4.5 per cent.

Total income for the quarter increased by 6.4 per cent to Rs 177.1 crore from Rs 166.4 crore. Finance cost for the quarter dipped considerably to Rs 2.44 crore from 8.1 crore in the previous year.

On a consolidated basis, the Zee Telefilms group posted a net profit of Rs 82.37 crore for the quarter ended 31 December against Rs 90.19 crore in the previous year. Total revenue decreased from Rs 374.57 crore to Rs 339.01 crore.

However, excluding Padmalaya, the consolidated revenues stood at Rs 355 crore, representing a nominal 1 per cent growth over the corresponding period in the previous financial year.

The consolidated operating profit, excluding Padmalaya, stood at Rs 109.3 crore, repersenting 9 per cent decline over the corresponding period of the last year.

Profit before tax for the third quarter was Rs 110.3 crore, down 5 per cent and net profit Rs 86.5 crore, up marginally by 1 per cent over the net profit of the corresonding period of the last year.

The broadcaster's advertising revenues declined by 2.5 per cent to Rs 179.5 crore from Rs 184.2 crore in the corresponding quarter previous year. The overall subscription revenue registered an increase of 8.2 per cent to Rs 162.44 crore from Rs 150.17 crore in the corresponding quarter last fiscal.

Domestic subscription revenue for the third quarter, including direct to home (DTH), was Rs 70.7 crore an increase of 31.3 per cent compared with the corresponding period last fiscal.

Subhash Chandra, chairman and managing director, said in a media release: "Zee is in an investment phase, with several new channels added and DTH business receiving due investments for growth. The financial performance of the third quarter has to be seen in the context of the startup phase of these initiatives. We continue to invest for the long term based on promising opportunities available in the industry."

He added that under the leadership of Zee's newly appointed CEO Pradeep Guha the company is expected to achieve greater heights.