Zee Entertainment Q3 consolidated operating revenue rises by 17%

Zee Media Bureau

Mumbai: Zee Entertainment Enterprises Limited (ZEEL) on Friday reported its third quarter fiscal 2016 consolidated revenue of Rs 15,951 million.

The consolidated operating profit (EBITDA) for the quarter stood at Rs 4,302 million. PAT for the quarter was Rs 2,744 million. The EBITDA margin for the quarter stood at 27 percent and the PAT margin was 17.2 percent.

The Board of Directors in its meeting held today, has taken on record the unaudited consolidated financial results of ZEE and its subsidiaries for the quarter ended December 31, 2015.

Dr Subhash Chandra, Chairman, ZEE, stated, “With its steadily improving economic scenario India has outperformed major emerging economies globally. India’s domestic growth momentum continues to be healthy. 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.”

Commenting on the results of the Company, Dr Chandra added, “ZEE saw an impressive performance in the third quarter. We grew ahead of the market through improved performance of our existing channels as well as new channels. 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 world’s leading media companies and become the first Indian media company to do so.”

Punit Goenka, Managing Director & Chief Executive Officer, ZEE, commented, “Continuing in line with our robust performance in the previous few quarters we have witnessed steady growth in the third quarter of fiscal 2016 as well. The advertisement market growth continued its upward trajectory this quarter further aiding our growth while the subscription market witnessed steady growth as well. This quarter saw the rollout of BARC in the rural areas which demonstrated the strength of our channels in the hinterlands of the country.”

Speaking about the outlook of the business, Goenka continued, “With more than 210,000 hours of content ZEE is the leading content player in the Indian TV industry offering quality entertainment to audiences both home and abroad. Our chief focus will remain on creating innovative and high quality entertainment that can be delivered to audiences across consumption platforms. We believe that providing excellent content will remain key for monetizing revenues, from both advertising and subscription standpoint. Going forward, we will further enhance our offerings on various platforms.”