News Broadcasting
Conditional access report redraft ready?
If this piece of unconfirmed news emanating from Delhi proves true, the industry’s wait for legislation on conditional access systems (CAS) may well be over sooner rather than later.
Reports indicate that the final draft of the CAS report, which had been sent back for reworking following strong protests from sections of the industry vis-a-vis its implications, was completed last night. The original draft was prepared by a the task force headed by Rakesh Mohan, joint secretary, I&B ministry. Reports say a two-man team who worked on the final draft looked at three key areas:
i) The programme of introduction of CAS.
ii) What changes in law are required to implement CAS?
iii) What sort of standards to apply and how to calibrate them into the Indian Bureau of Standards.
If there has been a decision to move forward on CAS, it will set in motion the beginning of the switchover from the catch-all bouquet of several channels as is the system now to one that makes it mandatory for consumers to pay only for the television channels they watch.
News Broadcasting
Zee Media back in the black as December quarter delivers
Heading- Q3 profit at Rs 61.49 crore as nine month numbers swing positive.
MUMBAI: After years of red ink, Zee Media Corporation Limited appears to have found its headline moment and this time, it is written in black. For the quarter ended 31 December 2025, the network reported revenue from operations of Rs 117.35 crore, marginally higher than Rs 116.96 crore in the September quarter. Total revenue, including other income of Rs 0.94 crore, stood at Rs 118.29 crore.
More significantly, profit before tax for the quarter came in at Rs 60.33 crore, a sharp turnaround from a loss of Rs 26.66 crore in the corresponding quarter last year. After accounting for a deferred tax credit of Rs 1.16 crore, profit after tax stood at Rs 61.49 crore, compared with a loss of Rs 19.95 crore a year ago.
Earnings per share for the quarter were Rs 0.98, reversing the negative Rs 0.32 recorded in the December 2024 quarter.
The improvement was driven by tighter cost controls. Total expenses for the quarter were Rs 140.72 crore, lower than Rs 144.13 crore in the year ago period. Employee benefits expense stood at Rs 44.76 crore, operating costs at Rs 25.51 crore, finance costs at Rs 4.56 crore, depreciation and amortisation at Rs 20.29 crore, and other expenses at Rs 45.60 crore.
For the nine months ended 31 December 2025, revenue from operations reached Rs 458.98 crore, up from Rs 337.40 crore in the same period last year. Total revenue stood at Rs 461.15 crore, including other income of Rs 2.17 crore.
Profit before tax for the nine month period was Rs 27.31 crore, a dramatic swing from a loss of Rs 103.77 crore in the corresponding period of the previous financial year. After a deferred tax charge of Rs 3.94 crore, profit after tax came in at Rs 23.37 crore, compared with a loss of Rs 77.67 crore last year.
Total comprehensive income for the nine month period stood at Rs 23.27 crore.
As of 31 December 2025, the company’s paid up equity share capital was Rs 62.54 crore, with other equity at Rs 364.46 crore.
On the corporate front, the company had incorporated a wholly owned subsidiary, Zeo Media Inc, in Delaware, United States, on 4 April 2024. However, pending Overseas Direct Investment approvals, no investment had been made in the subsidiary till 31 December 2025.
Zee Media’s existing subsidiaries include Zee Akaash News Private Limited, Indiadotcom Digital Private Limited and Pinews Digital Private Limited. It also has associate stakes in Today Merchandise Private Limited and Today Retail Network Private Limited.
While annual figures still reflect the hangover of earlier losses with the year ended 31 March 2025 showing a loss after tax of Rs 100.33 crore, the December quarter’s sharp recovery signals a potential reset. For a network long battling financial headwinds, the latest numbers suggest the narrative may finally be changing from survival to stability.
