Zee En­ter­tain­ment net slips 38% to 386 cr

Financial Chronicle - - MONEY GAME - FC BUREAU

Zee En­ter­tain­ment En­ter­prises (ZEEL) re­ported a 38.23 per cent de­cline in con­sol­i­dated net profit at Rs 386.10 crore for the sec­ond quar­ter ended Septem­ber 30, 2018.

The com­pany had posted a net profit of Rs 625.09 crore in the July-Septem­ber pe­riod a year ago, ZEEL said in a BSE fil­ing.

How­ever, its to­tal con­sol­i­dated in­come rose by 13.98 per cent to Rs 2,034.79 crore dur­ing the quar­ter un­der re­view as against Rs 1,785.18 crore of the cor­re­spond­ing quar­ter last fis­cal. Its to­tal ex­penses were up 20.8 per cent at Rs 1,386.45 crore as against Rs 1,147.05 crore.

Com­ment­ing on the re­sults, ZEEL manag­ing di­rec­tor & CEO Pu­nit Goenka said, "Our broad­cast busi­ness con­tin­ues to grow at an im­pres­sive pace as ev­i­dent from the do­mes­tic ad­ver­tis­ing and sub­scrip­tion rev­enue growth num­bers. We con­tinue to con­sol­i­date our view­er­ship share which is driv­ing our mar­ket lead­ing growth."

ZEEL's ad­ver­tis­ing rev­enue dur­ing the quar­ter was Rs 1,210.6 crore, reg­is­ter­ing a growth of 22.7 per cent on yearly ba­sis.

"Do­mes­tic ad­ver­tis­ing rev­enue grew by 23.3 per cent Y-o-Y to 1,152.6 crore. In­ter­na­tional ad­ver­tis­ing rev­enue for the quar­ter was Rs 58 crore," ZEEL said in a state­ment.

Its sub­scrip­tion rev­enue for the quar­ter was Rs 608.2 crore mil­lion, reg­is­ter­ing a growth of 21.3 per cent.

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