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.

Key highlights of the quarter include: ?19.0% all India entertainment share in Q2, #2 TV entertainment network in India ? Strong rebound in ratings across the markets with resumption of original content ? ZEE5 global MAUs and DAUs stood at 54.7mn and 5.2mn respectively in Sep-20 ? ZEE5 launched HiPi – a short video platform, to capture the growth in short video segment ? ZEE5 users spent an average of 152 mins per month on platform, 36% QoQ growth ? Zee Studios launched ZeePlex, a PPV platform for releasing new movies ? Domestic subscription revenue grew 2.3% on a like-to-like basis; Advertising revenue declined by 26.3% YoY ? Consolidated revenue stood at Rs.17,227 mn, decline of 18.8% YoY ? Adjusted EBITDA for the quarter (excluding one-offs) stood at Rs. 3,948 mn, EBITDA margin of 22.9%