Mumbai: Zee Entertainment Enterprises Ltd (ZEEL), which runs entertainment channels such as Zee TV and Zee Cinema, posted a net profit of Rs.194.11 crore for the October-December quarter, up 39.32% from a year ago.
The company’s total income for the quarter grew 26.25% to Rs.938.82 crore from Rs.743.61 crore.
During the quarter the company launched edu-tainment channel ZeeQ targeted at viewers in the 4-14 age group. Revenues from subscription stood at Rs.409.8 crore, up 25.6%.
“The subscription revenue during the quarter is the highest ever and with the digitization rollout, will improve in the medium term,” said Punit Goenka, managing director and chief executive of ZEEL. “Overall, I am confident about the next 12 months and will continue to make future investments in new content and channels. While these new investments will have an impact on our operating margins in the short term, they will enhance our performance in the medium term.”
Advertising revenue grew 28.8% to Rs.509.4 crore.
“The economic outlook is much better today than it was at the start of the year. We are hopeful that this will have better impact on the ad spends in the next year,” added Goenka.
ZEEL ended at Rs.234.65, up 5.41% on BSE Ltd.