ZEEL's operating revenue grew 14.9% to ₹1,979 crore as against ₹1,722 crore in the corresponding quarter last year
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Zee Entertainment Enterprises Limited on Thursday reported a consolidated net profit of ₹270 crore, zooming 187%, year-on-year for the quarter ended 30 September, 2021. The company posted a net profit of ₹94 crore in the year-ago period.
ZEEL's operating revenue grew 15% to ₹1,979 crore as against ₹1,722 crore in the corresponding quarter last year.
The company’s revenues from subscription declined 1.5 per cent on-year to Rs. 788.5 crore while sales from advertisement grew 20.7 per cent to Rs. 1,089 crore.
The company's domestic ad revenues grew both YoY & QoQ by 20.1% & 18.9% respectively, while revenue grew but Q2 continued to be partially impacted by Covid in first half of the quarter, Zee Ent said in a regulatory filing, adding that QoQ EBITDA grew by 19.8% on the back of ad revenue recovery.
Subscription revenues were down marginally by 1.5% YoY. Delay in NTO 2.0 implementation continue to impact pricing, it said.
The new timeline for NTO 2.0 implementation is April 01, 2022.
The comapny is also geared up to release movies across Hindi, Tamil, Telugu, Marathi and Punjabi languages in H2FY22
“Opening of cinemas across the country to boost prospects of theatrical revenue in second half of the fiscal," ZEEL said.