Zee News, on Wednesday, said that the news channel of the media company posted a net consolidated profit of Rs. 2.82 crore for the fourth quarter of the last fiscal. This is much lower than the figure for the previous quarter when the consolidated profit was Rs. 8.91 crore.

For the quarter the consolidated operation income stood at Rs. 60.6 crore as against Rs. 138.4 crore during the last fiscal. The firm also showed a consolidated PAT of Rs. 48.3 crore this year in comparison to Rs. 44.6 crore for the same period last fiscal.

In the filing with the National Stock Exchange, Zee said that the reason for the drop was the demerger of its regional general entertainment channel business. Given that, the comparison with the last quarter should not be made.

Talking about the results, Subhash Chandra, Chairman of ZNL said that the damager of the regional channels has helped the company go into a different trajectory. This will help the company to consolidate its position and also try and reach the position of market leader.

Currently, the firm has in its stable Zee News, Zee Business, Zee 24 Taas and 24 Ghanta.