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Zee 1HFY2000 net profit up 34%

Oct 13, 1999

Zee Telefilms, India’s largest private sector satellite television network, has reported a 33.7% jump in net profits to Rs 370 m for the half year period ended September 30, 1999 (Rs 270 m in 1HFY99). Turnover was up by 23%. The improved performance was on the back of a 24% growth in total advertisement bookings to Rs 2.1 bn. These are however unconsolidated numbers. Given that Zee has a substantial equity stake in Siti Cable and other media companies such as Asia Today, Zee Multimedia Worldwide, which have large growth potential, its unconsolidated financials are less relevant. The company's consolidated growth will be much more significant.

The company has embarked on a major expansion drive. It has launched 2 regional channels, Marathi and Bengali, under the brand 'Alpha'. It will be launching the 'Nickeldon' children's channel in alliance with Viacom by the end of this month. Its also announced plans to launch 3 English channels to take on former partner Star head on.

Market view:
Analysts rate the stock as a 'BUY' in view of the company's position as a leading player in the TV market and its strong earnings potential. The company's plan to become an Internet service provider (ISP) through its associate company ‘Siti Cable’, has also gone done well with analysts.

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