The Hindu Business Line : Ad revenues lift Zee News Q4 standalone net profit

Mumbai, April 17 Zee News Ltd reported a standalone net profit of Rs 15.3 crore for the fourth quarter of 2007-08 , as against Rs 1.3 crore in the corresponding quarter of the previous fiscal, driven by increased advertisement revenues.

The company’s revenues during the quarter touched Rs 110.2 crore (Rs 69 crore),a 59.7 per cent increase. Its total expenses were Rs 83.69 crore (Rs. 68.1 crore), an increase of 22.7 per cent.

Advertisement revenue during the quarter was Rs 86 crore, up by 84 per cent from the year-ago quarter. For the full fiscal, its advertising revenues went up by 69 per cent to touch Rs 283.7 crore. Subscription revenue was Rs 22 crore for the fourth quarter, up by 50 per cent from the last quarter of the previous fiscal.

Regional expansion

Mr Subhash Chandra, Chairman of Zee News, said the company would be launching Zee Tamil by July this year. “There is no doubt that regional language markets are more cluttered than the Hindi market, but Zee Network cannot afford not to be in these languages. Regional expansion of main line media will certainly boost the growth of advertising industry. Our new regional channels, Zee Telugu and Zee Kannada, are steadily gaining ground against many established players. It will not be long before both these channels break even and we start monetising the market share captured by them,” he said. Mr Barun Das, CEO of the company said the fourth quarter saw Zee News close the gap with its next biggest competitor.

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