Zee Ent Q2 Results: Cons profit surges 70% YoY to Rs 209 crore, beats estimates

Zee Entertainment Enterprises (ZEE) on Friday reported 70% year-on-year (YoY) growth in its consolidated net profit at Rs 209 crore for the quarter ended September 2024. It was Rs 123 crore a year ago.

Analysts had pegged the core net profit for the September quarter at Rs 153 crore.

Total income, meanwhile, fell 19% YoY to Rs 2,034 crore in the reporting period.


On a sequential basis, net profit after tax jumped 77% from Rs 118 crore posted in the preceding June quarter.

The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 321 crore, which is down 4% YoY, while margins improved to 16%.

The company said prudent cost discipline and focused execution has enabled it to clock 630 bps improvement in EBITDA margins in a challenging macro environment.

Domestic advertising revenue for the quarter declined by 9% YoY, impacted by a muted Ad spending environment in Q2. While ad spending is picking up with onset of the festive season, sustained recovery remains the key, the company said.

Subscription revenues continued healthy growth of 9% YoY during the quarter driven by both Linear subscription revenue post NTO 3.0 & ZEE5.

Other sales and services declined 77% YoY as the previous year period had higher theatrical revenue from Gadar 2 and other syndication.

ZEE said the decline in operating costs YoY was driven by lower programming and technology costs. It is also maintaining strong cost discipline across every element of cost structure.

On Friday, ZEE shares were trading 5.5% higher at Rs 132.73 on NSE.