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Zee Media Corporation Ltd reports financial results for Q4, FY19

Posted On: 2019-05-15 09:36:57

Zee Media Corporation Limited (ZMCL) (BSE: 532794, NSE: ZEEMEDIA) today reported consolidated revenues of Rs 1,693.5 mn for fourth quarter of fiscal 2019 and Rs 6,869.2 mn for full year 2018-19. The Network incurred expenditure of Rs 1,304.5 mn during the quarter and Rs 5,132.8 mn for the full year 2018-19. The Board of Directors, in its meeting held today, approved and took on record the financial results of ZMCL for the fourth quarter ended March 31, 2019.

Operating Highlights

- Operating revenue in FY19 grew by 19.8% to Rs 6,869.2 mn from Rs 5,734.8 mn in FY18. In Q4FY19, operating revenue declined by 3.9% to Rs 1,693.5 mn from Rs 1,762.2 mn in Q4FY18. The revenue decline is due to hold back of spends by advertisers across the industry in the 1st half of the quarter in view of the TRAI's New Tariff Order implementation. However, the company managed to cover up significantly during the rest of the quarter.

- Operating Expenditure in Q4FY19 reduced by 7.7% to Rs 1,304.5 mn from Rs 1,412.7 mn in Q4FY18 due to business optimization.

- EBITDA for Q4FY19 grew by 11.3% to Rs 388.9 mn from Rs 349.5 mn for the corresponding period last financial year. EBITDA Margin grew from 19.8% in Q4FY18 to 23% in Q4FY19.

Shares of Zee Media Corporation Limited was last trading in BSE at Rs.14.55 as compared to the previous close of Rs. 13.65. The total number of shares traded during the day was 155739 in over 640 trades.

The stock hit an intraday high of Rs. 14.8 and intraday low of 13.42. The net turnover during the day was Rs. 2188581.

Source: Equity Bulls

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