Zee Media Corp Q2 results: Net loss widens to Rs 49.86 cr, revenue down 13%

Private news broadcaster Zee Media on Friday said its consolidated net loss widened to Rs 49.86 crore for the second quarter ended September 2024.

The company had posted a net loss of Rs 30.70 crore during the July-September quarter of the previous fiscal, according to a regulatory filing from Zee Media Corporation Ltd (ZMCL).

Its revenue from operations fell 13.78 per cent to Rs 130.70 crore during the quarter under review. It was Rs 151.59 crore in the corresponding period of the previous fiscal.

ZMCL's total expenses were Rs 199.65 crore, up 1.64 per cent, in the September quarter.

The total income of Zee Media, which includes other income, also declined 13.43 per cent to Rs 133.12 crore.

Its advertising revenue slipped 16.3 per cent to Rs 119.22 crore, while subscription revenue rose 26.7 per cent to Rs 11.43 crore in the September quarter.

ZMCL is one of the leading news networks in India. Formerly known as Zee News Ltd, it operates about 20 TV news channels.

Shares of Zee Media Corporation Ltd on Friday settled at Rs 19.19 apiece on BSE, down 4.95 per cent from the previous close.