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Zee News Limited (ZNL) has reported consolidated revenues of Rs 648.5 million for the first quarter ended June 30, 2010 for the financial year 2010-2011. The Net Profit after tax for the Company stood at Rs 33 million.

The results of the current quarter are not comparable with the figures of the corresponding quarter of the previous year numbers as the Regional General Entertainment Channels (R-GEC) business was de-merged from the Company effective from January 1, 2010.

The EBITDA of ZNL was posted at Rs 81 million and EBITDA Margin at 12.5% for the period. In the earning release ZNL says that the numbers are encouraging as the recently launched operations of Zee Tamizh, Zee Uttar Pradesh & Zee Ghantalu have reported loss.

ZNL posted EBITDA profit of Rs 208.3 million from its existing business of Zee News, Zee Business, Zee 24 Taas, Zee Punjabi and 24 Ghanta, while the new business of Zee Tamizh, Zee 24 Ghantalu and Zee News UP suffered EBITDA loss of Rs 127.1 million.

The advertising revenue for ZNL marked a growth of 14.5% despite of the benefits received by the bouquet of channels of the Company from the political ads for the general elections.

ZNL chairman Subhash Chandra commenting on the first quarter numbers said, “ZNL has out-performed the industry in Q1 of FY 2010-11.The advertising revenue of the company grew by 14.5%, which is quite creditable given the fact that last year during the same period news genre enjoyed an unprecedented revenue growth owning to general elections of the Country."

"Aggressive business strategy, coupled with operational efficiency has enabled us achieve a 12.5% EBITDA margin for the company despite the losses accruing from the three newly launched channels. In a cluttered television news market where profitability is a prerogative of only a select few, ZNL’s performance certainly stands apart,” he added.