The Hindu Business Line : Zee Tele Q1 net dips 28 pc

Zee Telefilms Ltd (ZTL) has reported a 28 per cent decrease in its first quarter consolidated net profit at Rs 56.22 crore against Rs 77.85 crore in the year-ago period.

Growth rate is subdued mainly due to investments in programming and marketing focussed on long-term build up of mainline channels.

Operating losses in its new businesses were Rs 57.1 crore. Total revenues stood at Rs 388.35 crore against Rs 313.07 crore in the year-ago period.

Advertising revenue was higher by 31.5 per cent at Rs 172.88 crore (Rs 131.45 crore) and subscription income was up by 2.8 per cent at Rs 179.8 crore.

"The company's investment in 25 FPS Media Pvt Ltd, a subsidiary engaged in production of television programming for the company, is intended to be disposed of. Accordingly, its financials are not consolidated in these results. Previous year's figures are also not comparable to that extent,'' ZTL said in a notice to the stock exchanges.

Shares of ZTL edged down by Rs 1.95 to Rs 249.75 on BSE.

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