Zee Entertainment Q2 results: Zee Entertainment Enterprises (ZEEL) reported a significant 61% increase in net profit, reaching ₹209.5 crore for the quarter ending September 30, 2024 (Q2 FY25). However, the company’s operating revenue fell to ₹2,000.7 crore, down 18% compared to last year and 6% from the previous quarter.
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EBITDA (earnings before interest, taxes, depreciation, and amortization) also decreased by 4% year-on-year to ₹321 crore but showed an 18% increase sequentially. The EBITDA margin improved to 16% from 13.6% in the same quarter last year.
The company mentioned that its domestic advertising revenue dropped by 9% year-on-year due to a slowdown in advertising spending during Q2. ZEEL noted that while ad spending is starting to pick up with the festive season approaching, a sustained recovery is crucial.
Following the announcement of these results, ZEEL’s shares rose over 5%, trading at ₹132.20 on the BSE.
ZEEL shared that its growth plan includes investments in high-growth areas like digital platforms (ZEE5), international ventures, music, and regional markets. The decrease in operating costs year-on-year was attributed to lower expenses in programming and technology, reflecting strong cost management throughout the company.
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Additionally, the board of Zee Entertainment has re-appointed Punit Goenka as Managing Director and CEO for another five years, effective from January 1, 2025, to December 31, 2029.
Lastly, the company announced that the record date for the final dividend entitlement for the fiscal year ending March 31, 2024, will be Friday, November 8, 2024. If approved by shareholders, the dividend will be paid on or after November 29, 2024.
