Zee Media Corporation reported a steady set of numbers and margins improved but operating costs were higher. In an interview to CNBC-TV18, Sumit Kapoor, CFO of the company spoke about the results and his outlook going forward.
Post DNA demerger, our debt is sub of Rs 100 crore, so we are not very high on the debt, said Kapoor.
However, we are in the process of arranging for debts for the radio (Reliance Broadcast Networks) acquisition and we have tied up couple of facilities wherein the upfront fees and other related charges have come as part of finance cost. It's not a regular feature but has affected our finance cost in the quarter, he added.
"From here on we are now getting ready to focus more on increasing our revenues," said Kapoor.
Kapoor expects radio acquisition to be complete anytime in ongoing quarter.
On BTVi acquisition news front, he said we are in an open market, deals do keep coming in for us but we have already acquired radio business. It's time for us to consolidate that business and look in for operational synergies before we look in for other deals.
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