Zee Telefilms posts Rs 161 M net profit

By siliconindia   |   Wednesday, 30 October 2002, 08:00 Hrs
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Zee Telefilms Ltd has reported a net profit of Rs 161.30 million for the second quarter of fiscal 2002 as compared to a net profit of Rs 295.90 million in the year ago period.

MUMBAI: Income from sales & services has decreased from Rs 1046 million in Q2, 2001 to Rs 880.30 million. Other income for quarter ended September 30, 2002 is at Rs 186.70 million.

The company announced that it has posted a profit after tax of Rs 545.50 million Q2 2002 as against Rs 532.90 million that it recorded in Q2 2001. Total Revenue has increased from Rs 2478.60 million in Q2, 2001 to Rs 2745.50 million in 2002. Other income has increased from Rs 188.40 million in Q2-2001 to Rs 197.20 million in Q2-2002.

Although advertising spends continue to remain lack luster, Zee strategic programming initiatives are expected to help in maintain or improve its share of advertising revenues, the company announced. However subscription revenues form the domestic as well as the international markets continue to grow at a healthy rate, which will provide an increasing broad basing of revenue stream in the days ahead.

"We continue to face an extremely challenging environment but are reasonably confident of our ability to deliver value from our multi-pillar business model which we feel is best suited in the diversified Indian environment," an official spokesperson commented.

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