Zee Media Corporation (ZMCL) has annouced its financial results for the quarter ended September 30, 2024. The media company's net revenue stood at Rs 130.7 crore, down from Rs 151.6 crore in the same period last year, representing a 13.9% Year-on-Year decrease.
It also reported a 16.4% Year-on-Year decrease in advertising and sales promotion expenses for the quarter ending September 2024, with spends totaling Rs 1,192.2 million, down from Rs 1,425.2 million in the same period last year. The company saw subscription revenue rise by 26.7% Year-on-Year for this quarter, increasing from Rs 9 crore to Rs 11.4 crore.
Zee Media reported a consolidated net loss of Rs 49.9 crore for the second quarter as compared to a net loss of Rs 30.7 crore during the same period last year.
Revenue from operations decreased by 13.78% to Rs 130.7 crore in the quarter under review, down from Rs 151.6 crore in the corresponding quarter of the previous fiscal year. Additionally, ZMCL's total expenses rose by 1.64% to Rs 199.7 crore in the September quarter.
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