Zee Media Corp posts Q4 loss of Rs 7.17 crore

NEW DELHI: Zee Media Corporation Ltd (ZMCL) today reported a consolidated net loss of Rs 7.17 crore for the fourth quarter ended March 31, 2015.

The company had posted a consolidated net profit of Rs 4.11 crore in the same period last fiscal, ZMCL said in a filing to the BSE.

However, ZMCL's net sales on consolidated basis rose to Rs 138.78 crore during the quarter, up 66.20 per cent against Rs 83.50 crore in the same period of the previous fiscal.

During the 2014-15 fiscal, ZMCL reported a consolidated net loss of Rs 46.65 crore as against a net profit of Rs 18.93 crore in the year-ago period.

Net sales during 2014-15 were also up 61.45 per cent to Rs 540.46 crore as against Rs 334.75 crore a year ago.

Meanwhile, in a separate filing, ZMCL said that its board has "decided not to recommend any dividend on the equity shares of the company for financial year 2014-15" in order to conserve the resources for future business requirements.

Additionally, the board also approved appointment of Ashish Pandit as Executive Director & CEO of the company with effect from June 1, 2015.

Shares of ZMCL today closed at Rs 18.10 a piece on BSE, down 0.55 per cent from their previous close.