ZEEL posts profit of Rs 93.41 crore in Q2
The company’s domestic subscription revenue grew 2.3% on a like-to-like basis whereas advertising revenue declined by 26.3% YoY
Zee Entertainment and Enterprises Ltd has reported a consolidated Profit After Tax (PAT) of Rs 93.41 in the second quarter of this financial year as compared to Rs 412.09 crore in last year same quarter. The company profit has declined by 77% in the current quarter.
The media company, in its earnings results, said subscription revenue reported a growth of 10.6%, including revenue from music business which has been reclassified as subscription revenue in this fiscal. On a like-to-like basis, domestic subscription grew 2.3% YoY, primarily driven by growth in ZEE5 subscription revenues.
In terms of advertising revenue, the company said, the figure for the quarter declined by 26% compared to 66% decline in Q1. Rebound in demand across most consumer segments bodes well for advertising revenues in H2, the company said.
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