Zee Entertainment announces results for Q3

Zee Entertainment announces results for Q3Zee Entertainment Enterprises Limited (ZEEL) has announced financial results for the third quarter ended December 31, 08. It posted 5 per cent growth rate in revenue which stood at Rs 5,456 million in December. Its year to year revenue posted 27% increase as compared same period last year.

The net profit of media house declined 26 per cent and stood at Rs 83.97 crore for the quarter ending December 2008 as compared to Rs 113.47 crore before a year. The company suffered decline in advertising revenue in the reporting quarter which adversely hit its revenue growth. Advertising revenues for ZEEL stood at Rs 268.4 crore while consolidated profit remained at Rs 1,116 million.

High input costs and strike of television workers in November last also hit its profit margin in Q3. The programming and operating cost for ZEEL contributes about 62 per cent of the total expense for the group. It remained at Rs 268.4 crore against Rs 254.9 crore in same period last year.

Meanwhile, the board of Directors of ZEEL held a meeting and reviewed the record of unedited consolidated financial results for the third quarter.

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