ZMCL revenue for Q2 FY24 stands at Rs 151 crore
Zee Media Corporation Limited (ZMCL) recently reported a revenue of Rs 151.5 crore for the quarter ended September 30, 2023. The network has incurred expenditure of Rs 171.8 crore in the same period, and operating loss of Rs 20.2 crore. This is a 199 per cent decline when compared to Q2 FY23, when the operating profit stood at Rs 20.3 crore.
Compared to Q2 FY23, the operating revenue and expenditure amounted to Rs 194.7 crore and Rs 174.3 crore.
The consolidated operating loss, of Q1 and Q2 collectively, amounted to Rs 39.9 crore, out of which the operating revenue and expenditure were Rs 29.2 crore and Rs 331.9 crores respectively.
The media group’s advertising revenue stood at Rs 142.5 crore for the quarter, marking a negative growth of 22.7 per cent. Last year, in the same quarter, the ad revenues were Rs 184.2 crore. A total of Rs 274.3 crore was recorded as the advertising revenue of Q1 and Q2 combined.
The subscription revenue for Q2 FY24 was Rs 9 crore, touching a growth of 1.4 percent, when compared to last year’s same quarter. The total H1 subscription revenues saw a decline of 1.5 percent vis-à-vis last year, amounting to Rs 17.5 crore.
Zee Media’s marketing, distribution and business promotion expenses were Rs 28.9 crore, marking a whopping growth of 88 per cent when compared to Q2 FY23. Q1 and Q2 of FY24 together saw a 45.9 per cent increase in the respective spends, amounting to Rs 50.6 crore.
Tags : Zmcl TV Business Q2FY24