Zee Media reports 34% growth in Q3 operating profit to Rs68cr; stock hits 5% upper circuit

EBITDA increased by 34.4% to Rs68.37cr in Q3FY21 from Rs50.87cr in Q3FY20.

Feb 12, 2021 11:02 IST India Infoline News Service

Quarterly Results
Zee Media Corporation Limited has reported consolidated revenues of Rs184.39cr for the third quarter of fiscal 2021. The Network incurred expenditure of Rs116.02cr in the same quarter. The Board of Directors has approved and took on record the financial results for the third quarter ended December 31, 2020.

Operating Highlights:
  • EBITDA Margin increased to 37.1% in Q3FY21 from 32.6% in Q3FY20.
  • EBITDA increased by 34.4% to Rs68.37cr in Q3FY21 from Rs50.87cr in Q3FY20.
  • Operating Revenue increased by 18.3% to Rs184.39cr in Q3FY21 from Rs155.91cr in Q3FY20.
  • Operating Expenditure increased by 10.5% to Rs116.02cr in Q3FY21 from Rs1,05.04cr in Q3FY20.

Business Highlights:
The 14 news channels of ZMCL comprising 1 Global, 3 National and 10 Regional channels together continued to be one of the largest TV news networks in the country

ZEE News at NT Awards 2020: In 2020 edition of News Television (NT) Awards, ZEE News won 5 awards in Promo & Graphics category, 1 award in Sales and Marketing category (Best Brand Partnership) and 1 award in Special category (Best Technological Innovation). All in all, 7 prestigious titles and uncountable applauds at NT Awards 2020 was an assurance for us that we are going in the right direction in serving the nation and standing upright as the 4th pillar of democracy.

In December, the development on vaccine for COVID-19 picked up pace. In India, there were 3 prominent vaccines which were ahead of others and were expected soon. ZEE News brought to its viewers every aspect of those vaccines through various shows and a dedicated Vaccine Conclave. Not just this, we brought the most revered medical experts like Dr. Randeep Guleria and Dr. V.K. Paul and many more for their opinions on the vaccines.

Zee Business continued to enjoy its prime position in the Business News genre. The channel was a winner in 3 categories in the recent NT Awards 2020 - Best Business News Programme, Best Business Talk Show and Best Investigation by a news channel. The channel also gave festive flavour in programming by planning shows such as “10 Vijay Mantra”, “Navratra Mein Golden Shopping”, “Ye Diwali Ummidon Wali” etc.

Zee Hindustan, our 2nd National Hindi News channel, was revamped and it became stronger than ever before with its new tagline “Humara Sanwad, Rashtrawad”. The channel also covered the Bihar Elections 2020 extensively, where on-ground reporting was done from all the constituencies and 2 major anchors travelled more than 10000km in Bihar. The newly launched app crossed 150k downloads in this quarter.

Zee MPCG Nava Chhattisgarh: On the backdrop of the Congress Govt. completing its 2nd successful year in Chhattisgarh, Zee MPCG hosted this event and provided a platform to the Government to showcase their development works and to discuss the road map for the years to come. Awards were presented by Mr. Bhupesh Baghel (Chief Minister, CG) to the people who had done some exemplary works in their respective fields. Mr. T.S. Singh Deo (Health Minister - CG), Smt. Anila Bhediya, Minister of Child and Woman Welfare, etc shared the dais.

Zee PHH organized an event in Chandigarh called Punjab Conclave. Chief Minister Captain Amarinder Singh, Mr. Sukhbir Badal, Mr. Bhagwant Mann, many cabinet ministers and other dignitaries graced the occasion and shared their views on issues like farmers protest on Agri bill, development initiatives, etc.

Zee Media Corporation is currently trading at Rs5.55 per piece up by Rs0.26 or 4.91% from its previous closing of Rs5.29 on the BSE, at around 12:00 PM

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