ZEE MEDIA CORP. Announces Quarterly Results (3QFY19); Net Profit Up 124.7%

Mon, 28 Jan

ZEE MEDIA CORP. has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

ZEE MEDIA CORP. Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	1,592	1,687	1,942	15.2%	22.0%
Other income	Rs m	12	20	22	11.5%	90.8%
Turnover	Rs m	1,604	1,707	1,965	15.1%	22.5%
Expenses	Rs m	1,218	1,278	1,362	6.6%	11.8%
Gross profit	Rs m	374	409	580	41.9%	55.1%
Depreciation	Rs m	116	126	138	9.5%	19.5%
Interest	Rs m	37	44	51	17.0%	38.2%
Profit before tax	Rs m	233	259	413	59.5%	77.2%
Tax	Rs m	111	83	139	66.9%	25.2%
Profit after tax	Rs m	122	175	274	56.0%	124.7%
Gross profit margin	%	23.5	24.2	29.9
Effective tax rate	%	47.7	32.2	33.7
Net profit margin	%	7.6	10.3	13.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 22.0% on a year-on-year (YoY) basis. The expenses were up by 11.8% YoY during the same period.
• The company's operating profit increased by 55.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.9% in 3QFY19 as against 23.5% in 3QFY18.
• Depreciation charges increased by 19.5% and finance costs increased by 38.2% YoY, respectively.
• Other income increased by 90.8% YoY during the quarter.
• Net profit for the quarter increased by 124.7% YoY. Net profit margins during the quarter increased from 7.6% in 3QFY18 to 13.9% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 15.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.6% QoQ during the same period.
• The company's operating profit increased by 41.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.9% in 3QFY19 as against 24.2% in 2QFY18.
• Net profit for the quarter increased by 56.0% QoQ, while net profit margins increased from 10.3% in 2QFY18 to 13.9% in 3QFY19.

To see how ZEE MEDIA CORP. has performed over the last eight quarters, please visit here.

ZEE MEDIA CORP. Share Price Performance

Over the last one year, ZEE MEDIA CORP. share price has moved up from Rs 44.7 to Rs 17.7, registering a Loss of Rs 27.0 or around 60.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,298.3 (up 0.3%). Over the last one year it has moved up from 6,898.5 to 7,298.3, a gain of 400 points (up 5.8%).

Overall, the S&P BSE SENSEX is down 0.5% over the year.

Current Valuations

At the current price of Rs 17.7, the price to earnings (P/E) ratio of ZEE MEDIA CORP. stands at 6.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.