Zee Media Corporation Q3 net loss at Rs 181.87 crore

Broadcast news network Zee Media Corporation on Thursday reported a consolidated net loss of Rs 181.87 crore in the third quarter ended December 2019. The company had posted a consolidated net profit of Rs 27.2 crore in the corresponding period of the previous financial year, Zee Media Corporation said in a regulatory filing.

Its total income from operations stood at Rs 155.91 crore in the quarter under review as against Rs 194.22 crore in the year-ago period, it added. Advertising revenue in the quarter stood at Rs 143.74 crore, down 18.1 percent from Rs 175.51 crore in the corresponding period last fiscal.

Subscription revenue was also down 25.1 percent at Rs 9.74 crore as compared to Rs 13.01 crore in the year-ago period, it added. Total expenses during the third quarter stood at Rs 132.73 crore as compared to Rs 155.16 crore in the same period last fiscal, the company said.

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