MUMBAI: Zee Media Corporation Ltd (ZMCL) reported consolidated revenues of Rs 1,370.3 million for the second quarter of FY 20. The Network incurred an expenditure of Rs 1,000.1 million in the quarter and reported a consolidated net loss of Rs 1264.6 million for the second quarter ended September 30, 2019 on account of exceptional items.

“During the quarter, the network expanded its footprint s into Southern India through the launch of Zee Hindustan in Tamil and Telugu languages. This is intended to make the network's content accessible to wider audience,” ZMCL said on a statement.

Operating revenue of the network grew by 4.4 per cent to Rs. 3,376.9 million in the first half of FY20 from Rs. 3,233.5 million in the first half of FY19. However, it declined by 18.8 per cent to Rs 1,370.3 million in Q2FY20 from Rs 1,686.6 mn in Q2FY19 .

Operating expenditure in Q2FY20 reduced by 21.7 per cent to Rs 1,000.1 million from Rs 1,277.9 million in Q2FY19, while reducing by 4.8 per cent to Rs 2,347.9 million in the first half of FY 20 from Rs 2,466 million in the first half of FY19.

“EBITDA for HlFY20 improved by 34.1 per cent to Rs 1,029 million from Rs 767.5 million EBITDA for H1FY19, while the same declined by 9.4 per cent to Rs 370.2 million from Rs 408.7 million for the corresponding period last financial year. EBITDA Margin grew from 23.7 per cent in H1FY19 to 30.5 per cent in HlFY20, while growing from 24.2 per cent in Q2FY19 to 27 per cent in Q2FY20,” the company said in a statement.