Zee Entertainment Enterprises Ltd has announced the following Unaudited results for the quarter & year ended March 31, 2007. The Company has posted a profit after tax of Rs 592.20 million for the quarter ended March 31, 2007 where as the same was net loss at Rs 132.50 million for the quarter ended March 31, 2006. Total Income is Rs 2165.60 million for the quarter ended March 31, 2007 where as the same was at Rs 2661.30 million for the quarter ended March 31, 2006.
The Company has posted a profit after tax of Rs 1677.90 million for the year ended March 31, 2007 where as the same was at Rs 690.80 million for the year ended March 31, 2006. Total Income is Rs 9118.70 million for the year ended March 31, 2007 where as the same was at Rs 8824.20 million for the year ended March 31, 2006.
The consolidated results for the Quarter ended March 31, 2007: The Group has posted a profit after tax of Rs 699.20 million for the quarter ended March 31, 2007 where as the same was at Rs 676.30 million for the quarter ended March 31, 2006. Total Income is Rs 4020.50 million for the quarter ended March 31, 2007 where as the same was at Rs 4091.80 million for the quarter ended March 31, 2006.
The consolidated results for the Year ended March 31, 2007: The Group has posted a profit after tax of Rs 2406.60 million for the year ended March 31, 2007 where as the same was at Rs 2259.80 million for the year ended March 31, 2006. Total Income is Rs 15041.40 million for the year ended March 31, 2007 where as the same was at Rs 15452.00 million for the year ended March 31, 2006.
The previous period figures include the results of Demerged undertaking of Zee's News, Cable and Direct Consumer Business. Also the current period figures include the results of Taj TV Ltd. Hence same are not comparable.
The figures for the year ended March 31, 2006 are audited.
Mr. Subhash Chandra, Chairman, stated, "Zee Entertainment finished the fourth quarter of FY2007 with a strong operating profit growth of 112% to 951 million. The operating margins have improved to 25% in comparison to the 13% in the corresponding quarter of last fiscal. Despite the disruptions in this quarter, because of the Cricket World Cup and intense competitive activity, we have recorded a revenue growth of 11%, which shows the resilience of our brands".
"We are investing our time and efforts both in reaching out the new viewers as well as in capturing a larger mind share of our existing viewers. And we have succeeded in our effort consistently in the last several quarter. With rapid digitization of television homes in India through digital satellite (DTH) and digital cable services, we are confident of delivering superior returns", Mr. Chandra added.
Commenting on the restructuring Mr. Chandra continued, "With listing of Dish TV on April 18th, the restructuring exercise is now complete. We are pleased that Dish TV has ended FY2007 with a registered subscriber base of 1.9 million and is well poised to cross the 3.0 million mark in the coming year. Dish TV is the one of the fastest growing DTH services in the world and we are confident that it would build long term shareholder value".