Zee Media's net profit stands at Rs 17.25 crore for 2nd quarter

Zee Media Corporation Ltd Monday reported a consolidated net profit of Rs 17.25 crore for the second quarter ended September 30, 2018.

It had reported a net profit of Rs 3.79 crore in the July-September quarter a year ago, Zee Media Corporation said in a BSE filing.

Its consolidated income from operations during the reported quarter stood at Rs 170.66 crore as compared to Rs 126.71 crore in the same period last fiscal.

The company said results are not comparable consequent to the acquisition of Akaash News.

"Post-acquisition of balance 40 per cent equity stake in its subsidiary, Zee Akaash News became a wholly owned subsidiary of the company with effect from June 1, 2018, and accordingly figures for the current periods are not comparable with previous periods presented in the consolidated financial results," the company said.

Its total expenses during the quarter stood at Rs 144.78 crore.

Zee Media operates news channels which include Zee News, Zee Business, Zee Punjab Haryana Himachal, Zee Madhya Pradesh Chattisgarh, Zee Salaam (Urdu), Zee 24 Taas, Zee Kalinga and India 24X7.

Apart from News Channels, ZMCL also operates English daily 'DNA' through Diligent Media Corporation Limited, another subsidiary of the company.

Shares of Zee Media Corporation Ltd today settled at Rs 25.60 on BSE, up 3.02 per cent from their previous close.