Zee Ent
Zee Entertainment is an integrated television, media and entertainment company reaching more than 700 million viewers across 169 countries worldwide, including USA, Canada, Europe, Africa, Middle East, South East Asia, Australia and New Zealand. For 9MFY14, its consolidated revenue was Rs. 3,263 crore, with share of advertising jumping to 55% at Rs. 1,798 crore, while subscription revenue was 41% of the total revenue pie. PAT for 9MFY14 stood at Rs. 675 crore.
During Q3FY14, company reported revenue of Rs. 1,188 crore, up 8% sequentially, aided by higher-than-industry advertising growth (up 17% QoQ and 34% YoY), despite reduction in ad inventory to 12 minutes per clock hour, as per TRAI directive effective 1st October. New channel launches coupled with successful movie premiers also helped improve topline. Thus, subscription revenue now accounts for barely 38% of revenue, with international subscription being 27% of this subscription pie. Due to losses on sports business on account of a heavy event calendar and adverse exchange rate, EBITDA margins for Q3 contracted to 27.7% with Rs. 329 crore EBITDA. PAT for the quarter stood at Rs. 214 crore, resulting into EPS of Rs. 2.22. The good part is that the company debt free with free cash of over Rs. 920 crore or Rs. 9.6 per share. Media companies make the best amount of money whenever there are elections and this company too is expected to benefit immensely, with numbers expected to reflect in Q4 and partly in Q1FY15.