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ZEEL Q2 net soars 362%

Oct 25, 2007
Oct 25, 2007 Zee Entertainment Enterprise Ltd (ZEEL) has recorded a consolidated net profit of Rs 971 million in the quarter ended September 30, 2007, which is an increase of 362 per cent form the last fiscal. The net profit stood at Rs 210 million last year. The operating revenue at Rs 3.99 billion was up 14 per cent while expenditure dropped 19 per cent to Rs 2.67 billion. The advertising revenue grew stronger by 28 per cent to stand at Rs 2.2 billion for the second quarter. Subscription revenue was relatively slower, registering a 10 per cent growth at Rs 1.63 billion. Domestic subscription revenue was at Rs 775 million and international at Rs 850 million. The revenues from direct-to-home (DTH) stayed at Rs 125 million for the second quarter. We have had a commendable second quarter performance, with operating profit growth of 508 per cent over corresponding quarter of the last fiscal year. This substantial growth has been led by robust increase in advertising revenues. Moreover, our flagship channel, Zee TV, has gained leadership in the last few weeks of this quarter, stated the Chairman Subhash Chandra. ZEEL whole time director Punit Goenka stated, This quarter, Zee TV has been successful in not only bridging the gap with the genre leader substantially, but also has surpassed the leader in prime time. Zee TV averaged a channel share of 30 per cent in all day's viewership ratings, up from 25 per cent in the previous quarter. The key shows like Betiyaan, Saath Phere, Kasamh Se, Teen Bahuraniyan and Dulhann have helped us become a leader in the 5pm to 10pm time band on weekdays. On the weekends, Sa Re Ga Ma Pa became the top programme in the 'Hindi GEC' segment. We now have around 20 programmes in the Top 50, he added. ZEEL CEO Pradeep Guha said, With GRPs on a continuous rise, across all channels we have introduced a slew of ad sales initiatives, focusing on improving inventory utilisation, attracting higher yielding categories of business and increasing Effective Rates across all time bands - with special focus on prime time. Zee's revenue from sports business for the second quarter was at Rs 422 million. The second quarter of FY 08 has seen Zee Sports and Ten Sports reinforce their positions in both football and cricket. Mail your feedback on this article to esselnewsletter@zeenetwork.com.