NEW DELHI: Zee Media Corporation Ltd, one of the leading news networks in India with channels like  Zee News, Zee Business, WION, Zee Hindustan etc under its umbrella, has reported consolidated revenues of Rs 1,843.9 million for the third quarter of fiscal 2021, up by 18.3 per cent from the corresponding quarter last year. The EBITDA increased by 34.4 per cent over Q3 FY20 to reach Rs 683.7 million. 

However, the revenue up to the quarter ended witnessed a drop of 5.6 per cent as compared to the last year. 

Subscription revenues also saw a minor dip of 0.8 per cent, clocking Rs 96.6 million over 97.4 million of Q3 FY20. The advertising revenue grew by 20.5 per cent, earning Rs 1,437.4 million for the network. 

Zee Media also deducted its operating expenses by 14.8 per cent in the quarter, while its marketing, distribution and business promotion expenses went up by 104.5 per cent. The network incurred an expenditure of Rs 1,160.2 million in Q3, over Rs 1,050.4 million in the same quarter last year.

The digital news portfolio also witnessed a rapid growth across properties, the network reported. Language news properties spanning 16 brands in 12 languages received 1.7 billion views in Q3 FY21 compared to 0.8 billion views in Q3 FY20. Monthly average users (MAUs) grew from 58.2 million in Q3 FY20 to 108.1 million in Q3 FY21. 

There is a revival in consumer demand and the network is looking to leverage this sentiment by providing fresh, original, and purposeful content to audiences across various platforms, Zee Entertainment Enterprises Ltd MD & CEO Punit Goenka said. “We are investing in enhancing our ability to create content as well as in technology to provide a world-class experience to our viewers. We continue to play to our strengths. Zee’s core strength is its strong brand connect with the consumer. We will continue to represent all our viewers through high-quality content that enriches lives," he added.