Zee News net up 48% at Rs 9.5 cr

The firm had a net profit of Rs 6.4 crore in the first quarter of FY08, Zee News said in a filing to the Bombay Stock Exchange.     

The revenue rose 47 per cent to Rs 109.60 crore in the latest quarter, from Rs 74.45 crore in the year-ago period.     

"Going forward with our regional expansion, we will be launching Zee Tamil and Zee Telegu News by the second quarter of FY09. With the launch of these two channels, Zee News Ltd will further strengthen its position in the news and regional entertainment genres," Zee News Chairman Subhash Chandra said.     

The subscription revenue stood at Rs 21.20 crore in the June quarter, a growth of 55 per cent as compared to the corresponding period last fiscal.     

The channel's advertisement revenue increased 55 per cent to Rs 85.80 crore for the quarter ended June 30.     

"We continued to deliver strong results and recorded a 47 per cent growth in EBIDTA of Rs 17.50 crore, against Rs 11.90 crore in the corresponding period last year," Chandra said.     

"The re-launch of Zee News has started showing positive results. To further drive the performance of our Hindi channel, we are planning a re-launch of Zee Business in the coming months," Zee News CEO Barun Das said.      S

hares of Zee News closed at Rs 48.05, up 1.16 per cent on the BSE.