Zee Media Corporation Ltd’s (ZMCL)’s operating revenue for the quarter increased 35.2% to Rs 154.6 crore compared to Rs 114.4 crore. Its expenditure was up 33.1% to Rs 118.8 crore from Rs 89.2 crore. The expenditure increased due to investments in new channels Zee Salaam, Zee 24 Kalak and Zee Uttar Pradesh Uttarakhand.
Its net profit grew almost 7.5 times to Rs 55.3 crore from Rs 7.3 crore in the previous fiscal due to a gain of Rs 41.2 crore from the sale of the entire stake in subsidiary company Ez-Mall Online. Ez Mall ceased to be a subsidiary of the company effective 30 June.
ZMCL’s marketing, distribution and business promotion expenses increased sharply by 53.8% to Rs 20.1 crore from Rs 13 crore.
The company’s EBITDA jumped 42.3% to Rs 35.8 crore compared to Rs 25.2 crore.