Zee Media Corporation Limited (ZMCL) reported consolidated revenues of Rs 1,282.4 million for first quarter of fiscal 2017. The Network incurred Operating Expenditure of Rs 1,105.3 million for the quarter ended 30th June 2016. The Board of Directors, in its meeting held on 9th September 2016, approved and took on record the financial results of ZMCL for the first quarter ended 30thJune, 2016.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of the Company stood at Rs 177.1 million in the quarter ended 30th June 2016 compared to Rs 153.3 million a year ago. Consolidated operating revenue, however, fell to Rs 1.28 billion (Rs 128.24 crores) from Rs 1.35 billion (Rs 135.27 crores) in Q1 of FY16.
The loss in revenue, though, was offset by a reduction in operating expenditure, which dropped 7.8 per cent to Rs 1.11 billion (Rs 110.53 crores) in the fiscal first quarter from Rs 1.2 billion (Rs 119.94 crores) a year ago.
Consolidated Financials
With the drop in the revenue and expenses Zee media share price dipped by more than 3 per cent intraday. The share price is currently trading at Rs 24.50, down by 3.16 per cent. A total of 13,14,475 shares of the Company have been traded on NSE today.
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