Zee Entertainment Q1 PAT jumps 31% YoY to Rs 326 crore

NEW DELHI: Zee Entertainment on Tuesday said its profit after tax (PAT) rose 31.4 per cent to Rs 326.40 crore for the quarter ended June 30.

The media company had reported Rs 248.40 crore profit in the corresponding quarter last year.

Operating revenue for the quarter rose 15 per cent to Rs 1,772 crore compared with Rs 1,540.30 crore in the year-ago quarter.


The company said its consolidated advertising revenue rose 18.6 per cent YoY to Rs 1,146 crore. While ad spends by consumer goods companies are increasing as their traction in rural markets improve, the growth in other categories also continues to be strong, it said.

The subscription revenue for the quarter rose 12.3 per cent YoY for the quarter but international subscription revenue slipped 6.6 per cent YoY during the same period.

"The growth in consumption, now being driven by rural as well, bodes well for advertising spends. In addition, increasing availability and adoption of digital medium, across different sectors, will have a positive effect on the country's growth trajectory," company Chairman Subhash Chandra said.

Based on our discussions with the advertisers and the visibility on ad campaigns, we believe that the ad growth for the industry could be higher than the initial estimates for this financial year, said Punit Goenka, Managing Director & CEO at Zee Entertainment.