New Delhi: Broadcaster Zee Entertainment Enterprises Ltd (ZEEL) posted a 74.49% increase in third quarter profit to Rs146.4 crore as its advertising sales and subscription revenue increased.
Total revenue fell 3% to Rs530.93 crore from a year earlier owing to a decline in other sales and services including content sydication, film distribution and education sales, said Atul Das, executive vice-president, corporate strategy, planning and business development. The film production division didn’t release any movies in the quarter and registered a loss of Rs9.9 crore.
Market analysts said that although the results are along expected lines, the continued decline in international subscriptions is a matter of concern. International subscription revenue fell 12% while that from domestic cable operations dropped 3%.
“The only source of worry is the revenue from foreign operations that’s seen a decline due to various reasons including currency fluctuation,” said a senior analyst with a leading brokerage firm who did not want to be named. “If the trend continues, it could offset the profit of the company in future.”