Zee Media Q4 net loss narrows to ₹45.8 crore

Zee Media Corporation Ltd on Monday said its net loss narrowed to ₹45.79 crore for the fourth quarter ended March 2023.

The company had posted a net loss of ₹51.45 crore in the January-March quarter of the preceding fiscal, Zee Media Corporation Ltd (ZMCL) said in a BSE filing.

Its total revenue from operations fell 40.38 per cent to ₹147.69 crore in the quarter under review from ₹247.73 crore in the corresponding quarter of the previous fiscal.

ZMCL’s total expenses slipped 18.91 per cent in Q4 FY23 to ₹178.33 crore against ₹219.94 crore a year ago.

The total income in the March quarter was ₹161.82 crore, down 35.17 per cent.

For the fiscal ended March 2023, ZMCL’s net loss narrowed to ₹68.81 crore from ₹117.72 crore in FY22.

Its revenue from operations dipped 16.87 per cent to ₹720.62 crore in FY23.

ZMCL is one of the leading news networks in India, having 14 news channels in its portfolio, including Zee News, WION and Zee Business.

Shares of Zee Media Corporation Ltd on Monday settled at ₹8.11 apiece on BSE, down 1.10 per cent from the previous close. PTI