Zee Media reports widening net loss of ₹30.7 crore in Q2, revenues down 22% YoY

Zee Media has reported its financial results for the July-September quarter of fiscal year 2023-24 (Q2FY24). The company's net loss in this quarter was ₹30.7 crore, compared to ₹12.08 crore in the same period the previous year. Revenues from operations for Q2FY24 were ₹151.5 crore, a 22% decrease from ₹194.7 crore in Q2FY23.

Zee Media's advertising revenue in Q2FY24 amounted to ₹142.5 crore, marking a decline of 22.7%. The subscription revenue for the same period was ₹9 crore, showing a growth of 1.4% compared to the previous year. The company incurred an operating loss of ₹20 crore and had expenditures of ₹171 crore.

Zee Media also announced that it has re-registered for the Television Audience Measurement System with the Broadcast Audience Research Council (BARC). This decision came after constructive discussions with BARC, leading to an agreement to share raw data in a timely manner, demonstrating a commitment to transparency.

The company also reported the closure of "Zee Media Americas LLC," a wholly owned subsidiary in Delaware, US.