Zee Media Corporation Net Loss Narrows To Rs 45.8 Cr In March Quarter

Zee Media Corporation Ltd on Monday said its net loss narrowed to Rs 45.79 crore for the fourth quarter ended March 2023.

The company had posted a net loss of Rs 51.45 crore in the January-March quarter of the preceding fiscal, Zee Media Corporation Ltd (ZMCL) said in a BSE filing.

Its total revenue from operations fell 40.38 per cent to Rs 147.69 crore in the quarter under review from Rs 247.73 crore in the corresponding quarter of the previous fiscal.

ZMCL's total expenses slipped 18.91 per cent in Q4 FY23 to Rs 178.33 crore against Rs 219.94 crore a year ago.

The total income in the March quarter was Rs 161.82 crore, down 35.17 per cent.

For the fiscal ended March 2023, ZMCL's net loss narrowed to Rs 68.81 crore from Rs 117.72 crore in FY22.

Its revenue from operations dipped 16.87 per cent to Rs 720.62 crore in FY23.

ZMCL is one of the leading news networks in India, having 14 news channels in its portfolio, including Zee News, WION and Zee Business.

Shares of Zee Media Corporation Ltd on Monday settled at Rs 8.11 apiece on BSE, down 1.10 per cent from the previous close.

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