For the first quarter ended 30th June 2008, its consolidated revenues stood at Rs.541.96 crore, a YoY rise of 38%. Zee’s revenues are generated primarily from advertising sales and subscription revenues. Other sales and services include revenues from syndication and education sales. Advertisement revenue was up 37% and subscription revenue was up 28%. During the current quarter, the domestic revenue stood at Rs.105.33 crore while international revenues were at Rs.109.69 crore. Other sales and services which include syndication sales, income from education business, playout and production services, events and commission on advertisements and subscription sales stood at Rs. 47.10 crore, contributing 8.7% to the total revenue of the company.
The consolidated operating profit was up 54% at Rs.144.18 crore. The forex loss incurred by the company has gone up in Q1. Its forex losses stood at Rs.11.22 crore as against Rs.2.14 crore in Q1FY08. So when the company almost always seems to post losses in forex derivatives trades, why does it then indulge in such instruments?
The company had launched the new channel – Zee Next with a lot of fanfare but its performance has been dismal. During the current quarter, it posted a loss of Rs.39.78 crore and the company has planned to hive off this channel effective from July 2008.
PBT was up 18% at Rs.145.10 crore. The company maintained its taxation at almost same levels but it write back excess tax payment for earlier year to the tune of Rs.57.40 crore and this was the main shot in the arm for the PAT, which was thus up by a whopping 98% at Rs.160.80 crore.
The consolidated performance includes the financials of Taj TV Limited, ETC Networks and Zee Turner. The company is banking mainly on the musical reality program – SaReGaMaPa. It presently has 19 out of top 50 programmes in Hindi GEC genre with average GRPs 226 per week during this quarter.
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