Zee News Ltd (ZNL) today reported net profit before tax for the third quarter ended December 31, 2010 at Rs 10.36 crore.
Net profit before tax in the third quarter last fiscal were at Rs 30.2 crore.
The company said consolidated revenues during the third quarter were at Rs 74.44 crore this fiscal, while it was Rs 170.6 crore in the same quarter last fiscal.
The figures are not comparable with the year-ago period in view of the de merger of regional general entertainment channels channels with effect from January 1, 2010 from ZNL to Zee Entertainment Enterprises Limited (ZEEL), the company said in a statement.
Commenting on the results, Zee News ltd (ZNL) Chairman Subhash Chandra said: "The news genre on television is marked by intense competition in India, unlike any other country in the world. Most news channels in India are incurring losses... Our company continues to outperform competition."
During the quarter advertising revenues stood at Rs 54.17 crore, while subscription Revenue was Rs 18.59 crore which constituted 25 per cent of the total revenue, the company said in a statement.
The company's scrips were trading at Rs 14 per share in the afternoon trade on the Bombay Stock Exchange, up 9.46 per cent from the previous close.
