Mumbai: Zee Media Corp Ltd (ZMCL) announced its first quarter financial results for the financial year 2023 on 29 July. The company reported total revenues of Rs 206.96 crore compared to Rs 170.18 crore during the corresponding quarter last year up by 21.6 per cent.

ZMCL’s advertising revenues for the quarter stood at Rs 196.53 crore, up by 23.7 per cent YoY. Subscription revenue declined by 10.2 per cent to Rs 8.93 crore.

ZMCL’s earnings before interest tax depreciation and amortization (EBIDTA) dipped marginally to Rs 39.84 crore from Rs 45.32 crore year-on-year (YoY).

The company reported profit after tax of Rs 8.19 crore compared to a loss of Rs 9.04 crore YoY.

The news broadcasting company’s operating expenditure increased by 33.8 per cent to Rs 167.12 crore versus Rs 124.86 crore in the corresponding quarter last year. The company’s operating costs went up by 58.2 per cent to reach Rs 36.02 crore and employee benefit expenses went up by 35.6 per cent to reach Rs 66.92 crore. Its other expenses increased by 29.8 per cent to reach Rs 44.84 crore.

ZMCL operates 14 TV news channels comprising one global, four national and nine regional language channels, together with five digital channels, 17 digital brands and is one of the largest news networks in the country.

Its flagship Hindi news channel Zee News had 9.2 per cent market share as per Broadcast Audience Research Council (Barc) data for Week 26 2022 (four week rolling average), Hindi-speaking market (HSM) 15+ audience, 0600-2400 hours. It recorded 15 minutes ATSV (average time spent per viewer).

Zee News YouTube channel garnered 660 million video views during the April-May-June quarter and reached over 60.1 million viewers through continued focus on innovative programming.

Its global channel Wion was awarded 13 prestigious News Television (NT) awards recognising the channel’s unbiased and non-cluttered approach towards news. The channel enjoyed 7.9 minutes ATSV and is the No. 1 English news channel on YouTube based on video views.

Source: BARC, All 22+ Male AB, India Urban, 0600-2400 hrs, WK 26'22 (4 weeks rolling average)

The network’s Hindi business channel Zee Business has 58.6 per cent market share, an average weekly reach of 1.32 million and 25.6 minutes ATSV as per Barc data, All 22+, Male ABC, HSM, 0600-2400 hrs WK 26'22 (4 weeks rolling average).