ZEE ENTERTAINMENT ENTERPRISES LIMITED The Board of Directors in its meeting held today, has taken on record the unaudited consolidated financial results of ZEE and its subsidiaries for the quarter ended March 31, 2015.
Q4 HIGHLIGHTS:
- Advertising revenues for the quarter were Rs 6,697 million, recording a growth of 15.0% over Q4 FY14. For full year FY2015, advertising revenues increased by 12.0% to Rs 26,603 million.
- Subscription revenues were Rs 5,108 million for the quarter ended March 31, 2015. For the full year FY2015, subscription revenues were Rs 17,935 million
- During the quarter, domestic subscription revenues stood at Rs 4,175 million. For the full year FY15 the domestic subscription revenue stood at Rs. 14,240 million. Adjusting for the difference due to accounting changes necessitated by change in TRAI's content aggregator regulation like-to-like growth for the full year FY 2015 is in low teens.
- During the quarter, international subscription revenues were Rs 933 million. As outlined in the prior Earnings Releases, due to change in arrangement with various operators across international territories, the reporting of subscription revenue for the current year has undergone a change and hence previous year figures are not comparable with that of current period. For the full year FY 2015 the like-to-like growth in rupee terms was in mid-single digit
- Consolidated operating revenues for the quarter stood at Rs 13,471 million. For the full year FY2015 the Company registered operating revenue of Rs 48,837 million. The revenue figures are not comparable to corresponding figures last year owing to changes mentioned above.
- Operating profit (EBITDA) for the quarter stood at Rs 2,708 million. EBITDA Margin stood at 20.1%. For the full year FY 2015, EBITDA stood at Rs 12,537 million. EBITDA Margin for FY 2015 stood at 25.7%
- Profit after Tax (PAT) for the quarter ended March 31, 2015 was Rs 2,319 million. PAT Margin stood at 17.2%. For the full year FY 2015 PAT stood at Rs 9,755 million. PAT Margin for FY 2015 stood at 20.0%
Mr. Subhash Chandra, Chairman, ZEE, stated, "With a stable government at the center the Indian economy has shown some signs for optimism and is expected to see a positive growth trajectory. New initiatives like the "Make in India" campaign and other reform measures have boosted confidence among investors in the successful and sustainable growth of the economy. Introduction of GST in the coming future should be a positive for the media sector. With the aforementioned developments in the economic environment we hope that the Media industry will see improvement in the revenues."
Commenting on the results of the Company, Mr. Chandra added, "Our performance in this quarter is reflective of the investments we are making to further enhance of market position. We continue to pursue opportunities in existing and new markets that will yield long term growth. Since, financially we are in a sound position, we are confident that we will benefit from exploring such growth opportunities in the coming year."
Mr. Punit Goenka, Managing Director & Chief Executive Officer, ZEE, commented, "This quarter, our performance has been satisfactory. As expected, advertising spends increased during the quarter backed by consistent performance of our channels. We also witnessed a sustainable growth in our subscription revenues in this period and with the implementation of digitization in Phase III and IV we expect to see our subscription revenues grow further in the future."
Commenting on the recently launched Hindi GEC channel "&tv", Mr. Goenka said, "&tv saw the best ever launch of a Hindi GEC channel. Following its successful launch the channel has continued to deliver and entertain audiences. We aim to better this performance in the future with new and innovative programming. We have also taken the channel to select international territories as well."
Mr. Goenka further added, "This quarter we also launched two international channels, Zee World, our first dubbed and subtitled English GEC offering in the international market, in South Africa and Zee Hiburan, a localized GEC with content dubbed or subtitled in Bahasa in Indonesia."
Speaking about the outlook of the business, Mr. Goenka continued, "In a constantly evolving media and entertainment space, we have always remained true to our values and vision in bringing excellent quality entertainment to our viewers. We believe that change is the only constant and strive to explore innovative and path breaking avenues to entertain our audiences in the domestic and international space."
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