Earnings Digest: Zee Ent Ad Revenues Up; Hindustan Media Ventures

Ad revenues for Zee Entertainment Enterprises Ltd were up 62.4% year on year and 6.7% quarter on quarter at Rs. 439.8 crore while subscription revenues stood at Rs 281.8 crore for the quarter ended December 2010. The company reported a 6.1% increase in consolidated net profit of Rs. 155.4 crore million over revenues of Rs 824.9 crore, which grew 55.4% year on year. However, since the Q3 numbers also include results from Regional General Entertainment business acquired from Zee News Limited and are post merger of 9X and ETC networks Ltd in the company and demerger of the education business, they are not comparable on a like-to-like basis. EBITDA margins were at 27.2% on Rs. 224.2 crore. Expenditure rose 60.8% to Rs. 600.7 crore compared to the corresponding quarter last year.
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