Zee TV Q3 net profit falls 26%

Ahead of the results shares of the listed Zee Telefilms closed Rs 1.55 higher at Rs 280.15 while the Bombay exchange index ended virtually unchanged. Zee’s share price was falling in the last three months and touched a 52-week low of Rs 217 last week from its all-time high of Rs 1630 in 2000.

The net profit was lower by 26 per cent due to higher cost of competition and new initiatives during this period, the company said. The Q3 has witnessed intense competition in general entertainment segment for viewership from existing as well as new satellite channels, it said adding, gross advertisement revenue for the group grew by just one per cent at Rs. 187.2 crore.

For the nine months period ended December, ZTL posted a net profit of Rs 90.89 crore (Rs. 61.67 crore) while total income stood at Rs 299.33 crore (Rs 218.98 crore).

On a consolidated basis for the nine months, the net profit was Rs 143.56 crore (Rs 138.46 crore) and total income was Rs 716.77 crore (Rs 576.28 crore), the release said.