Friday 23 May 2014

CQ- ZMCL’s FY14 performance sink due to new channel launches

Zee Media Corporation Ltd (ZMCL) fourth quarter and financial year March 2014 performance sink due to new channels launches. 
The company reported net loss of Rs 3.30 crore (Rs 33.0 million) in the fiscal fourth quarter compared to a net profit of Rs 8.03 crore (Rs 80.3 million) a year ago. 
ZMCL launched channels to suit its new content format Terrestrial Entertainment Network (TEN) and expand reach. It incurred substantial expenditure on new channel launches and programming for Zee Madhya Pradesh Chhattisgarh, Zee Marudhara and Zee Kalinga in FY2014. 
Typically, new channel launches result in higher operating expense during the launch period. However, continuing upward trend in subscription prevented the company’s losses from sliding further. ZMCL saw subscription revenues growing for the third consecutive quarter. 
ZMCL group CEO, news cluster Dr Bhaskar Das said, “At a time when the media and entertainment industry was witnessing several challenges, both regulatory and business related, owing to economic slowdown, ZMCL expanded its horizon with new regional offering Zee Kalinga catering to the Odisha market. Our television and digital reach is now 137.5 million, consolidating our position as the largest private news network in the country. We are in tune with changes in television environment expecting that digitisation will result in further lowering of carriage fees. We continue to evolve synergy in our operations with optimum utilisation of technology and resources. Even in the midst of a sluggish macro-economic environment, our advertisement revenue, the mainstay of business, has grown by a significant 9.2 per cent to Rs 220.5 crore (Rs 2.20 billion) for the financial year 2013–14.”

Source: http://cablequest.org/news/national-news/item/4928-cq-zmcl%E2%80%99s-fy14-performance-sink-due-to-new-channel-launches.html
Source: http://cablequest.org/news/national-news/item/4928-cq-zmcl%E2%80%99s-fy14-performance-sink-due-to-new-channel-launches.html

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