Zee Media Corp posts loss of Rs 15.61 crore in June quarter

Zee Media Corporation Ltd today posted a consolidated loss of Rs 15.61 crore for the first quarter ended on June 30, 2014.
The company had reported consolidated net profit of Rs 5.03 crore in the same period of the previous fiscal.
Consolidated total income of the company during April-June quarter was Rs 133.46 crore. It was Rs 77.68 crore during the same period last fiscal, Zee Media Corporation Ltd (ZMCL) said in a statement.
"ZMCL has enlarged its reach to over 147 million users across the country, again consolidating its position as the largest private news network. We have also continued to sharpen our focus on our online medium by ensuring seamless integration of content across platforms," ZMCL Group CEO News Cluster Bhaskar Das said.

On the future outlook, ZMCL Non-executive Chairman of the Board Subhash Chandra said:" The new buoyancy in the economy, backed by a well-intentioned policy push, is bound to make a positive impact on Indian media industry".
ZMCL's total consolidated revenue during the quarter under review from advertising was Rs 101.92 crore while revenue from from subscription was to Rs 24.93 crore.

The company has said that its results are not comparable due to merger of EPPL (Essel Publishers Private Ltd) with ZMCL.
"The results include figures for the print business and are not comparable to the previous quarters," ZMCL said.

ZMCL, formerly known as Zee News Ltd, is broadcasting eight news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga .
Shares of ZMCL closed at Rs 17.90 per scrip on the BSE, down 3.50 per cent from their previous close.