Zee media shares hit upper circuit on reporting 31.7% growth in Q3

Zee media shares jumped 5% to Rs 20.27 on the BSE at 9:45 am on Friday after reporting strong Q3 results for the financial year 2022.

The company reported an increase in operating revenues of 31.7% to Rs 242.81 crore for the quarter ended for Q3 FY22 against Rs 184.38 crore in the same quarter last year. The network incurred an expenditure of Rs 155.3 crore in the same period against Rs 116.0 crore, recording an increase of 33.9%.

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The Board of Directors, in the meeting held today, approved and took on record the financial results of ZMCL for the third quarter ended December 31, 2021. 

The networks’ advertising revenue grew by 33.7% to Rs 231.7 crore for the quarter ending Q3 FY22 against Rs 173.2 crore for the quarter ending Q3 FY21. The subscription revenue of the company saw a growth of 0.2% to Rs 9.68 crore as compared to Rs 9.66 crore in the same quarter the previous year. 

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According to the financial results, the company’s marketing, distribution and business promotion expenses grew 76.4% to Rs 29.2 crore in Q3FY22 against Rs 16.5 crore in Q3 FY21. 

The company said that the 14 news channels of ZMCL– 1 global, 3 national and 10 regional language channels– together continued to be one of the largest TV news networks in the country. 

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The network’s digital news portfolio, with 17 brands in 11 languages, continues to witness rapid growth across the properties, receiving 4.23 billion page views in Q3-FY22 compared to 4.63 billion page views in Q2-FY22. Monthly Average Users (MAUs) in Q3- FY22, is 328 Mn vs 367 Mn in Q2-FY22. 

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According to the financial statement, Zee News has 658 million page views compared to 733 million page views in the previous quarter. MAUs also grew from 54.8 million in Q3FY22 to 54.5 million in Q2FY22.  

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Zee Biz grew 9% to 97.0 million page views compared to 89.0 million page views in the previous quarter.  Wionews.com, the global English news platform, grew 40% to 125.0 million page views compared to 89.0 million page views in the previous quarter. MAUs also grew from 8.2 million in Q3FY22 to 6.7 million in Q2FY22.