Zee Media’s Q1 FY23 revenues up by 21.6 per cent and ad revenues soars 23.7 per cent YoY

Zee Media Corporation Limited (ZMCL), which owns and operates 14 TV news channels, has reported a 21.6% growth in consolidated revenues at Rs 206.9 crore for the first quarter of FY23 against Rs 170.1 crore in Q1 FY22.

Advertising revenue rose 23.7% to Rs 196.5 crore compared to Rs 158.8 crore. Subscription revenue was down 10.2% to Rs 8.93 crore compared to Rs 9.95 crore. Other sales and services were up 6% to Rs 1.5 crore compared to Rs 1.4 crore.

The network incurred an expenditure of Rs 167.1 crore, which is a 33.8% increase over Rs 124.8 in Q1 FY22. Operating costs jumped 58.2% to Rs 36.2 crore from Rs 22.77 crore. Marketing, Distribution, and Business Promotion Expenses increased 6.4% to Rs 19.34 crore compared to Rs 18.18 crore. 6.4%

Operating Profit (EBITDA) was down 12.1% to Rs 39.84 crore from Rs 45.32 crore. The company reported a net profit of Rs 8.19 crore against a net loss of Rs 9.06 crore a year ago.

ZMCL’s TV news channels comprise 1 Global, 4 National, and 9 regional language channels besides five digital channels and 17 digital brands. Exchange4media