Zee Telefilms announces Q2 results

MUMBAI: Zee Telefilms Ltd has posted a profit after tax of Rs 109.90 million for the quarter ended 30 September, 2006 as compared to Rs 224.20 million for the quarter ended 30 September, 2005.


 


The total income has increased from Rs 1994.10 million for the quarter ended 30 September, 2005 to Rs 3032.50 million for the quarter ended 30 September, 2006.


 


The consolidated results are as follows:


 


The Group has posted a profit after tax of Rs 333.00 million for the quarter ended 30 September, 2006 as compared to Rs 425.20 million for the quarter ended 30 September, 2005. Total income has increased from Rs 3502.00 million for the quarter ended 30 September, 2005 to Rs 4840.90 million for the quarter ended 30 September, 2006.


 


Zee Telefilms chairman Subhash Chandra said, “Zee’s second quarter results prove the continued strength of our content business and a growing presence across new genres. Not only are we growing our content business, we have been very successful in integrating it with new platforms like DTH, with significant growth potential. The performance reflects our success in delivering superior content to viewers and stronger relationship with our consumers.”


 


“We are also happy about some recent developments relating to our business. There is continued monitoring of High Court for implementation of CAS in the notified areas of Mumbai, Delhi and Kolkata by 31 December, 2006. This will additionally help in bringing about addressability on cable. On DTH, DishTV further enhanced its offering from August when the Star bouquet was also made available to subscribers and now DishTV has the most comprehensive content on any pay television service, whether cable or satellite. All these have extremely positive and long term impact on our business,” he added.


 


Commenting on the restructuring exercise, Chandra said, “The restructuring exercise is underway and is expected to be completed by January 2007. There has been some delay from our earlier expectation of November 2006, due purely to a number of adjournments of court hearings. When completed, the restructuring would result in four listed companies ready to exploit the vast emerging opportunities in each line of business. The next several years would provide tremendous growth opportunities for all these four businesses.”

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