The media company's consolidated net profit surged 187.19% to Rs 270.16 crore on 14.87% increase in net sales to Rs 1,978.79 crore in Q2 September 2021 over Q2 September 2020.
On a consolidated basis, Zee Entertainment Enterprises (ZEEL)'s profit before tax rose 114.51% to Rs 359.04 crore in Q2 September 2021 over Q2 September 2020. Advertisement and publicity expense jumped 39.14% year-on-year to Rs 244.92 crore during the quarter on account of new launches and continued investments in ZEE5.EBITDA rose 31.4% to Rs 412.10 crore in Q2 September 2021 over Q2 September 2020. EBITDA margin stood at 20.8% in Q2 September 2021, higher than 18.2% in Q2 September 2020. EBITDA for the quarter grew by 19.8% QoQ.
Domestic advertising revenues grew both YoY & QoQ by 20.1% & 18.9% respectively. While revenue grew but Q2 continued to be partially impacted by Covid in first half of the quarter.
Subscription revenues were down marginally by 1.5% YoY. Delay in NTO 2.0 (new tariff order) implementation continued to impact pricing. The new implementation timeline for NTO 2.0 implementation is 1 April 2022.
Other sales & services revenues increased on account of a movie syndication deal.
Zee's all India TV network share grew to 17.7% during the quarter on the back of new launches across all markets. New channels contributed 1.2% of viewership share. The company's market share was 17% in Q1 June 2021 and 19% in Q2 September 2020.
Big bang launches planned across markets in Q3 to continue upward momentum in network share, Zee said.
More From This Section
Meanwhile, the company's board approved revised agreement pertaining to transfer of digital publishing business division to Indiadotcom Digital. An aggregate consideration of Rs 63.77 crore will now be discharged by Indiadotcom in cash instead of issuing equity shares to the company.
Further the board took note of Sebi caution letter in relation to the disclosure made by the company titled Requisition for calling an Extraordinary General Meeting of the shareholders of ZEEL.
Zee Entertainment Enterprises is a media & entertainment powerhouse offering entertainment content to diverse audiences. It is among the largest global content companies across genres, languages, and platforms. ZEEL is present across broadcasting, movies, music, digital, live entertainment and theatre businesses, both within India and overseas.
Shares of ZEEL were down 0.72% at Rs 311.70 on the BSE.
Powered by Capital Market - Live News