GECs
Zee declares Rs 1.9b. net profit for FY2002
MUMBAI: Successful digitisation as well as the phenomenol success of film of last year’s blockbuster hit Gadar helped Zee Telefilms Ltd to register a Net profit of Rs 1.95 billion on gross revenues of Rs 11.55 billion for the year ended March 2002.
The company has declared the audited financial results for the year FY02 on Tuesday. The consolidated profit after tax (PAT) is lower by Rs 56.8 million than the unaudited PAT declared earlier. The difference is largely due to accelerated amortisation of deferred revenue expenditure, the company has stated.
Gross advertisement revenue for FY02 amounted to Rs 6.60 billion and contributed to 57 per cent of total revenues. Going pay has definitely helped the company to garner Rs 3.17 billion contributing 27 per cent of the total revenues. Domestic subscription revenues from DTO (direct to operator) operations amounted to Rs 987 million. Strong international presence is also contributing to earnings.
Other sales and services, which included film business, education, music and syndication revenues contributed Rs 989 million to revenues. The major contributor being the commercially successful film Gadar Ek Prem Katha , which contributed Rs 204 million to revenues.
Total operating expenses during FY2002 amounted to Rs 7.72 billion. Cost of goods, which includes transmission and programming costs, accounted for the largest share with Rs 4.44 billion. Zee had external debt of Rs 7.44 billion as of 31 March 2002, which resulted in higher finance costs of Rs 808 million.
The board of directors, in its meeting held on Tuesday, has taken on record the audited financial results of Zee Telefilms Limited and the audited consolidated financial results of Zee Telefilms Limited along with its subsidiaries, for the year ending 31 March, 2002. The company also has declared a dividend of 55 per cent for the same period to its shareholders.
Zee has for the first time prepared its consolidated financials statements in accordance with mandatory accounting standard AS-21 on “Consolidated Financial Statement” issued by the Institute of Chartered Accountant of India. The figures for the previous year have not been compared as this being the first year of consolidation, comparison with previous year would not be available, the company release states.
The audited results came after closing hours of the stock market. Zee Telefilms scrip was volatile on the Mumbai stock exchange on Tuesday. The stock rose to a high of Rs 87.10 in early trades on renewed buying, after a recent fall from the higher levels. However, the stock lost ground in late-morning trades once again from its higher levels to touch the days low of 84.10 in the afternoon. There has been massive institutional selling on the counter in the last few sessions.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
