Zee’s Q3 net profit down 11 percent

Mumbai, Jan 15 (IANS) Leading television media and entertainment company Zee Entertainment Enterprises on Friday reported a decline of 10.5 percent in its net profit for the third quarter of the current fiscal.

According to the company, its consolidated net profit stood at Rs.274.4 crore for the quarter ended December 31, 2015 as compared to Rs.306.5 crore during the corresponding period of last fiscal.

The media company’s consolidated revenue increased by 17 percent Rs.1,595.1 crore during the period under review from Rs.1,363.7 crore for the like quarter of last fiscal.

The company pointed-out that its EBITDA (earning before interest, tax, depreciation, amortisation) margin for the quarter stood at 27 percent.

“New initiatives being planned by the government on both investment and policy front are likely to fuel economic growth in the coming quarters. Media industry is also expected to benefit in this improved economic scenario through higher advertisement and subscription revenues,” said Subhash Chandra, chairman, Zee Entertainment Enterprises.

“Our vision is to provide long term sustainable growth to our shareholders. Our investments continue to provide us with positive results. We will continue to identify and pursue profitable investment opportunities that will enable us to join the ranks of worl”s leading media companies.”

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