Zee Media reports Rs10.41 crore loss in Q3
Company says earning figures not comparable due to merger of Essel Publishers with Zee Media Corp.
New Delhi: Zee Media Corp. Ltd on Thursday reported a consolidated loss of 10.41 crore for the third quarter ended on December 2014.
The company had registered consolidated profit of 5.91 crore in the same period of the previous fiscal. Consolidated total income during the period under review was 139.87 crore. It was 91.68 crore during the same period last fiscal, Zee Media said in a BSE filing. “Consolidating our position as the largest news network, ZMCL (Zee Media Corp) reached over 116 million consumers. Striving to create content differentiator in a me-too market, we are investing strategically into content that aligns with big news events... The increased focus on content has been made possible by robust growth in advertisement revenue," Group chief executive officer (CEO), News Cluster, Bhaskar Das said.
Total consolidated revenue during the quarter under review from advertising was 100.13 crore, while revenue from from subscription was to 27 crore. The company said the earning figures are not comparable due to merger of EPPL (Essel Publishers Pvt. Ltd) with Zee Media Corp. “EPS for the periods ended 30 September 2014 and 31 December 2014 are not comparable to the corresponding previous periods due to allotment of equity shares in pursuance of the scheme of amalgamation for the merger of EPPL with the company effective from the appointed date 1 April 2014," it said. Zee Media Corp., formerly known as Zee News Ltd, is broadcasting 10 news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga . Company shares closed at 18.80 a share on BSE, down 3.09% from its previous close.
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