Zee Entertainment March quarter profit up 7.4% to Rs231.9 crore
The profit was helped by an increase in advertising and subscription revenue
New Delhi: Zee Entertainment Enterprises Ltd, which operates entertainment channels such as Zee TV and Zee Cinema, on Thursday reported a 7.4% increase in net profit for the quarter ended March as it benefited from an increase in advertising and subscription revenue.
Net profit rose to ₹ 231.9 crore in Mach quarter from ₹ 216.2 crore in the year-ago period. The profit was earned on a 16.2% rise in revenue to ₹ 1347.1 crore from ₹ 1,158.8 crore a year ago. Ad revenue rose 15% to ₹ 669.7crore, and that from subscriptions increased 10% to ₹ 510.8 crore.
For the full fiscal year, the broadcaster posted a net profit of ₹ 975.5 crore, up 9.6%. Revenue increased 10.4% from to ₹ 4,883.7 crore.
“This quarter, our performance has been satisfactory. As expected, advertising spends increased during the quarter backed by consistent performance of our channels. We also witnessed a sustainable growth in our subscription revenues in this period and with the implementation of digitization in Phase III and IV we expect to see our subscription revenues grow further in the future." Punit Goenka, managing director and chief executive officer, said in a statement.
Besides the launch of the Hindi channel, &tv the company also launched two new international channels—Zee World, its first dubbed and subtitled English general entertainment channel (GEC) offering in South Africa, and Zee Hiburan, a localized GEC with content dubbed or subtitled in Bahasa in Indonesia.
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