Zee Media reports Rs 10.41 crore loss in Q3

NEW DELHI: Zee Media Corporation today reported a consolidated loss of Rs 10.41 crore for the third quarter ended on December, 2014.

The company had registered consolidated profit of Rs 5.91 crore in the same period of the previous fiscal.

Consolidated total income during the period under review was Rs 139.87 crore. It was Rs 91.68 crore during the same period last fiscal, Zee Media Corporation Ltd (ZMCL) said in a BSE filing.

"Consolidating our position as the largest news network, ZMCL (Zee Media Corporation) 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 CEO, News Cluster, Bhaskar Das said.

Total consolidated revenue during the quarter under review from advertising was Rs 100.13 crore, while revenue from from subscription was to Rs 27 crore.

The company said the earning figures are not comparable due to merger of EPPL (Essel Publishers Private Ltd) with Zee Media Corporation.

"EPS for the periods ended September 30, 2014 and December 31, 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 April 1, 2014," it said.

Zee Media Corporation, 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 Rs 18.80 per share on BSE, down 3.09 per cent from its previous close.