An year of restructuring, resurrection, star shooting & cricket! Zee makes waves...

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Doomsayers have written off Subhash Chandra twice, and twice this one-time rice packer from Hisar, Haryana, has risen from the ashes like a Phoenix to prove them wrong. Coming from a humble background, (Chandra is a Class 12 dropout) he has built the country’s largest media & entertainment powerhouse. Today, Chandra is worth a staggering $2.3 billion and is often called the ‘Indian Rupert Murdoch’, though he would disapprove of the tag. Besides, his love-hate relationship with Murdoch is quite well known.

‘Subhash Ji’s’ Zee is still runs in a very traditional manner; yet it has managed to set many precedents in the industry. The work culture has barely few signs of the hip MNC lifestyle, and yet Zee’s channels can be accessed in over 120 countries across the world.

After the de-merger of Zee Tele films Ltd., the group recently announced the financial results of the de-merged Zee Entertainment Enterprise Ltd. (ZEEL) for the quarter ending March 31, 2007. The consolidated revenues for the quarter were Rs.3.84 billion (growth of 10.6%). The consolidated operating profit stood at Rs.951 million, a rise of 112%. Moreover, for the financial year ending March 2007, advertising revenues rose by 32% to touch Rs.7.06 billion and subscription numbers were up by 27%. On a consolidated proforma basis, revenues for ZEEL and its subsidiaries stood at Rs.14.41 billion, while PAT was recorded at Rs.2.4 billion, a growth of 12.3%. On a standalone basis, ZEEL stood at rank 129 in the B&E Power list. Stated Chandra on the results, “We are investing our time & efforts both in reaching out to new viewers as well as in capturing a larger mind share of our existing viewers. And we have succeeded in our effort consistently in the last several quarters.” Added Puneet Goenka, Whole Time Director, “During the fourth quarter, we faced intense competition for eyeballs from the Cricket World Cup and other competition. Despite these events, Zee TV has been able to maintain its ratings across time bands and has averaged 211 Gross Rating Points for the quarter…”

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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