Mr.Bhat
EntMnt Contributor
Zee News Ltd (ZNL) has ZNL's advertising revenue rose six per cent despite reducing ad inventory of its flagship Hindi news channel Zee TV by 30 per cent in a tough economic environment.
Subscription, however, fell and consolidated net profit dropped 21 per cent for the first quarter ended 30 June 2012 over the earlier year.
Net profit stood at Rs 40.1 million compared to Rs 50.8 million a year ago.
Operating revenue rose 8.2 per cent jump to Rs 688.8 million. Expenses, however, jumped 13.5 per cent to Rs 635.4 million.
Among the expenses, the cost of goods and operations jumped 25 per cent, while other expenses jumped 12.1 per cent.
The delay in digitisation has impacted ZNL. Said ZNL MD Punit Goenka said, “This has been a speed bump in improving the business models of television news broadcasters. While the delay is certainly disappointing, our existing strength in subscription revenues should see us through this period of transition. Our new strategic Initiatives plan is in place to leverage increased viewer choice as well as improved business model post cable digitisation. Meanwhile, we continue to ensure that the brand salience of the individual channels in news network is maintained and strengthened through our various marketing activities.”
Indiantelevision.com > News Room Headlines > Zee News Ltd Q1 ad rev up 6% amid ad time cut, net drops 21%
Subscription, however, fell and consolidated net profit dropped 21 per cent for the first quarter ended 30 June 2012 over the earlier year.
Net profit stood at Rs 40.1 million compared to Rs 50.8 million a year ago.
Operating revenue rose 8.2 per cent jump to Rs 688.8 million. Expenses, however, jumped 13.5 per cent to Rs 635.4 million.
Among the expenses, the cost of goods and operations jumped 25 per cent, while other expenses jumped 12.1 per cent.
The delay in digitisation has impacted ZNL. Said ZNL MD Punit Goenka said, “This has been a speed bump in improving the business models of television news broadcasters. While the delay is certainly disappointing, our existing strength in subscription revenues should see us through this period of transition. Our new strategic Initiatives plan is in place to leverage increased viewer choice as well as improved business model post cable digitisation. Meanwhile, we continue to ensure that the brand salience of the individual channels in news network is maintained and strengthened through our various marketing activities.”
Indiantelevision.com > News Room Headlines > Zee News Ltd Q1 ad rev up 6% amid ad time cut, net drops 21%