Zee Entertainment's Q4 profit at Rs 272 cr, ad revenue up marginally

Zee Entertainment Enterprise Ltd on Thursday reported a consolidated net profit of Rs 272.36 crore for the quarter ended in March 2021.

The company had reported a net loss of Rs 765.82 crore in the January-March quarter a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a BSE filing.

Its total income during the quarter under review was Rs 1,984.39 crore against Rs 1,991.74 crore in the corresponding quarter.

According to the company, the impact on its result is primarily due to restrictions caused by the Covid-19 on the business activities, hence it is not comparable.

"The impact on the results for the quarter and year ended 31 March 2021 is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the year ended 31 March 2021 are not strictly comparable with the results of the earlier periods presented, said ZEEL.

Its revenue from advertisement was at Rs 1,122.96 crore in the January-March quarter. It was Rs 1,038.94 crore in the corresponding quarter. Its subscription revenue was at Rs 803.35 crore. It was at Rs 741.36 crore in Q4/FY 2019-20. Revenue from Other sales and services' was at Rs 39.51 crore. It was Rs 170.78 crore a year ago.

For the fiscal year, 2020-21 ended on March 31, 2021, ZEEL's net profit was at Rs 793.04 crore. It was Rs 524.59 crore in the previous year. Its total income was Rs 7,840.35 crore against Rs 8,413.50 crore in FY 2019-20.

Over the current status, the company said from early March 2021, India has witnessed a second wave of COVID-19 with a sudden rise in Covid-19 cases across the country.

This has again led to imposing lockdown like restrictions across the country, which is likely to impact the economic activity, it said.

Shares of Zee Entertainment Enterprise Ltd on Thursday settled at Rs 191.60 on BSE, down 0.55 per cent from the previous close.