Zee News Q4 PAT at Rs2.82 cr; FY10 profit at Rs48.3 cr

Zee News Q4 PAT at Rs2.82 cr; FY10 profit at Rs48.3 cr

Mumbai: Media major Zee News today said it has earned a consolidated profit after tax (PAT) of Rs2.82 crore for the fourth quarter ended March 2010.

The company had a consolidated net profit of Rs8.91 crore during the March quarter in the previous fiscal.

During the financial year, the media house demerged its regional general entertainment channels business, hence, the previous quarter numbers are not comparable, Zee News said in a filing to the National Stock Exchange (NSE).

The consolidated operating revenue of the firm stood at Rs60.6 crore for the March quarter of FY10, while the same was at Rs138.4 crore last fiscal.

For the year ended March 2010, the company reported a consolidated PAT of Rs48.3 crore, whereas it was at Rs44.6 crore in the corresponding fiscal.

“Zee News is all set to embark on a new and promising trajectory after the demerger of the company was formally concluded. Our aim is to consolidate our commanding position in the news genre and spread out our wings even further in the regional and national arena," ZNL chairman Subhash Chandra said.

The existing news operations, which comprises Zee News, Zee Business, Zee 24 Taas and 24 Ghanta, recorded 30% growth year-on-year in advertising revenues for the quarter.

“Our greater concentration on the regional segment has borne fruit. Zee News UP is now firmly entrenched as the leader in the cow belt of India and is showing impressive growth in viewership numbers," ZNL managing director Laxmi Narain Goel said.

ZNL’s revenues are generated primarily from advertising sales and subscription income, it said.

Shares of Zee News were today trading at Rs17.80 on the NSE, down 0.28% from previous close.