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Our Bureau

Mumbai , April 15

ZEE Telefilms Ltd has posted a net profit of Rs 87.6 crore in the fourth quarter of fiscal 2004, an 8.4 per cent increase over the Rs 80.76 crore in the corresponding quarter last year.

These numbers are after consolidating the financials of ETC Networks Ltd and Padmalaya Telefilms Ltd for the fourth quarter.

The growth has been attributed to higher pay revenues from domestic and international markets and a recovery in advertising revenues, despite the Indo-Pak Cricket series.

The company reported consolidated revenues of Rs 382.6 crore, an 8.9 per cent increase over the Rs 351.45 crore.

The consolidated operating profit has increased by 22.6 per cent to Rs 127.4 crore over the same period last year.

An official statement quoting the Chairman and Managing Director, Mr Subhash Chandra, said: "The fourth quarter witnessed continued recovery in advertising business, growing 6 per cent to Rs 183.6 crore (Rs 173.2 crore). This was achieved despite diversion of advertising spends to cricket. We also achieved 21 per cent growth in domestic pay revenues.

In the full year ended March 31, 2004, the company recorded a net profit of Rs 310.17 crore as against Rs 224.45 crore recorded in the previous year. The total revenue during the year was at Rs 1,369.55 crore (Rs 1,207.92 crore), and operating profit at Rs 445.72 crore (Rs 375.66 crore).

Zee's revenues are generated primarily from advertising sales and subscription revenues. Other sales and services include revenues from film production and distribution, music publishing, syndication and education, it said.

Advertising revenues increased by 6 per cent to Rs 183.6 crore as compared to the corresponding quarter in the last fiscal. Overall subscription revenues, including domestic and international businesses, grew by 14.2 per cent to Rs 157.6 crore (Rs 138 crore).

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