Zee Media's Financial Struggles Deepen in Q2 2024

Zee Media reported a widened net loss of Rs 49.86 crore for Q2 2024, compared to Rs 30.70 crore in the previous year's same quarter. The company's revenue from operations decreased by 13.78% to Rs 130.70 crore, while total income declined 13.43%. Advertising revenue dropped by 16.3%.

Zee Media Corporation Ltd., a prominent private news broadcaster in India, announced a significant increase in its consolidated net loss, reaching Rs 49.86 crore for the second quarter ending September 2024.

Compared to the same quarter in the previous fiscal year, where the company reported a net loss of Rs 30.70 crore, this marks a considerable downturn. The figures come from Zee Media's regulatory filing, detailing a 13.78% drop in revenue from operations, taking it down to Rs 130.70 crore from Rs 151.59 crore.

Despite the challenging economic landscape, subscription revenue showed promise, rising 26.7% to Rs 11.43 crore, contrasting the 16.3% slump in advertising revenue. Zee Media remains a key player in India's media sector, with shares closing at Rs 19.19 on the BSE, a decline of 4.95%.

(With inputs from agencies.)