Stocks

Zee Media slumps after downbeat March-quarter revenue

Reuters May 15 | Updated on May 15, 2019 Published on May 15, 2019

Shares of television news media company, Zee Media Corp, slumped as much as 10 per cent to Rs 13.15, marking their worst session since January 29.

The company has reported March-quarter consolidated loss of Rs 86.66 crore ($12.34 million), versus profit of Rs 2.46 crore a year ago.

The company’s Q4 advertising revenue was almost flat y-o-y, while subscription revenue dived 22 per cent.

The stock was down 39.3 per cent this year, as of last close ($1 = 70.2320 Indian rupees).

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Published on May 15, 2019
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