Subhash Chandra-promoted Indian broadcasting major Zee Entertainment Enterprises Ltd (ZEE) has posted a double digit growth in its net profit for the quarter ended September 30, 2012. ZEE's net proft stood at Rs 187.5 crore, up 17.2% over the corresponding quarter of the previous fiscal. In the Q2 of FY2011-12 the company had posted a net profit of Rs 160 crore.
The company's consolidated revenues saw a 33.8% jump to Rs 953.5 crore, from Rs 712.8 crore in the year ago period. While advertising revenue jumped by 33.7% to Rs 528.1 crore, subscription revenues also saw a boost of 35.7% to Rs 395 crore. Domestic subscription revenues were at Rs 280.8 crore, international were at Rs 114.1 crore.
Operating profit (EBITDA) for the quarter stood at Rs 217.6 crore, while EBITDA margin was at healthy 22.8%.
Punkit Goenka, managing director and CEO of ZEE said, “ZEE has had a commendable quarter on the operational front. ZEE's flagship channel Zee TV improved its average weekly GRPs in 2QFY13 as well, marking a third consecutive quarter of improvement. Our portfolio has seen improvement in revenues both in terms of advertising and subscription. We have also continued our investment in content, both in increasing the hours of original programme as well as launching new products. This has consequently impacted operating margins in the short term. The overall response to the new shows launches during the quarter has been very encouraging and we look forward to further engaging the viewers with new and fresh programming ideas.”
ZEE's expenditure, jumped 44% to Rs 735.9 crore, compared to Rs 510.8 crore in the year ago period.
ZEE shares closed at Rs 192.05 on BSE, down 0.93% from its previous close.
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