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Our Bureau

Mumbai, July 24 Higher advertisement and subscription revenues helped Subhash Chandra-promoted Zee News Ltd post a nearly 50 per cent rise in its standalone net profit in the quarter ended June 30, 2008 to Rs 9.50 crore versus Rs 6.4 crore in the same period last fiscal.

Its standalone revenues touched Rs 109.6 crore, up by over 47 per cent.

In tune with the growth in net profit, the company’s advertisement revenue shot up by almost 45 per cent to touch Rs 85.8 crore, while subscription revenue was Rs 21.2 crore, an increase of 55 per cent.

Mr Subhash Chandra, Chairman of the company, said that its new businesses, comprising Zee Telugu, Zee Kannada and Zee 24 Taas, delivered close to 170 per cent growth in operating revenues.

“Going forward without regional expansion, we will be launching Zee Tamil and Zee Telugu news by the second quarter of FY 2009. With the launch of these two channels, the company will further strengthen its position in the news and regional entertainment genres.”

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