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Zee News Ltd (ZNL) has reported a 26.7% rise in its consolidated net profit on a year-on-year (YoY) basis for the third quarter of financial year 2009-10 ended 31 December, 2009.

The consolidated net profit during the period stood at Rs 191.5 million against Rs 151.2 million in the corresponding quarter in previous year.

The profits have soared on back of revenues earned by the company during the period. The consolidated revenues augmented 19.3% at Rs 1.71 billion from last year. The advertising revenue grew by 25.6% to Rs 1.40 billion and the subscription revenue increased 18.8% to Rs 280.6 million from the year-earlier period.

The expenses stood at Rs 1.34 billion in the current quarter, rose 18.7% from Rs 1.13 million in the Q3 of previous year.

Subhash Chandra, Chairman for Zee News Ltd remarked, “To further build on its existing strength, ZNL now is on the path to consolidate its news operations and unlock tremendous cost and synergy benefits going forward. Zee News Limited has with it all essential pre-requisites that would make it a news powerhouse going forward and the next media explosion driven by digitization would surely help this process catch up speed.”

On the standalone basis, the net profit accounted to be Rs 177.93 million compared to Rs 153.71 million for ZNL.

During the quarter, the board of the Company had approved de-merger regional general entertainment channels under ZNL and to be merged with the parent firm Zee Entertainment Enterprises Limited (ZEEL). These include Zee Marathi, Zee Bangla, Zee Talkies, Zee Telugu, Zee Kannada, and Zee Cinemalu.

Also, in October, ZNL acquired 12.82% stake in Akash Bangla for strategic partnership approved by the board earlier. Akash Bangla owns and operates the Bengali infotainment channel Akash Bangla.