Zee Media Corporation Ltd (Zee Media) on Wednesday reported a consolidated loss of ₹10.38 crore against a loss of ₹25.31 crore in the corresponding period of the previous year.
This came as expenses climbed to ₹199.30 crore from ₹185.11 crore in the year-ago period, even as total revenues inched up from ₹144.21 crore to ₹177.35 crore in the April-June 2024 quarter.
On a standalone basis, Zee Media suffered a loss of ₹14.48 crore compared with ₹20.19 crore a year ago. During this period, revenue from operations grew to ₹126.15 crore from ₹97.89 crore.
Zee Media said advertising revenues showed a growth of 24 per cent at ₹163.48 crore from ₹131.81 crore in the year-ago period, while subscription income rose more than 44 per cent to ₹123.4 crore.
Zee Media said working capital stands negative at the quarter ended June 30, 2024 and year ended March 31, 2024. Moreover, there have been delays in payments of statutory dues in certain cases.
Zee Media has a cluster of 19 TV news channels comprising one global, four national and 11 regional language channels.
