Zee Media Corporation Slips Into Red In 3Q2019

Zee Media Corporation has reported a consolidated net loss of Rs 181.87 crore in the third quarter ended December 2019 as against net profit of Rs 27.20 crore during the previous quarter ended December 2018. Sales declined 19.73 percent to Rs 155.91 crore in the quarter ended December 2019 as against Rs 194.22 crore during the previous quarter ended December 2018.

Advertising revenue in the quarter stood at Rs 143.74 crore, down 18.1 percent from Rs 175.51 crore in the corresponding period last fiscal. Subscription revenue was also down 25.1 percent at Rs 9.74 crore as compared to Rs 13.01 crore in the year-ago period. Total expenses during the third quarter stood at Rs 132.73 crore as compared to Rs 155.16 crore in the same period last fiscal.