Zee Media's Financial Struggle: Q2 Losses Deepen

Zee Media reported a consolidated net loss of Rs 49.86 crore for Q2 ending September 2024, compared to Rs 30.70 crore in the same period last year. Revenues dropped by 13.78%, with advertising revenue decreasing by 16.3% despite a 26.7% rise in subscription revenue.

Zee Media Corporation Ltd reported a significant increase in its consolidated net loss for the second quarter of the fiscal year ending September 2024, reaching Rs 49.86 crore. This marks a notable rise from the Rs 30.70 crore loss recorded in the corresponding quarter of the previous year.

The company's revenue from operations saw a decline of 13.78%, landing at Rs 130.70 crore, compared to Rs 151.59 crore in the same period last year. Total expenses climbed slightly to Rs 199.65 crore, marking a 1.64% increase.

Despite a strong presence in the Indian news market, Zee Media's advertising revenue fell by 16.3%, although there was a 26.7% increase in subscription revenue. Shares of the company closed at Rs 19.19 on the BSE, reflecting a 4.95% decline from the previous close.

(With inputs from agencies.)