Zee Entertainment Enterprises (ZEEL) reported 34% fall in consolidated net profit to Rs 181.93 crore in Q4 FY22 as against Rs 275.73 crore in Q4 FY21.
Net sales jumped 18.2% to Rs 2,322.90 crore for the quarter ended 31 March 2022 from Rs 1,965.82 crore recorded in the corresponding quarter previous year.During the quarter, revenue from advertisement stood at Rs 1,119.83 crore in the fourth quarter, recording a marginal de-growth from Rs 1,122.96 crore posted in Q4 FY21. Subscription revenue rose 6.41% to Rs 854.86 crore as against Rs 803.35 crore reported in the same period last year. Revenue from other sales and services reported a sharp growth of Rs 348.21 crore in Q4 FY22 from Rs 39.51 crore recorded in Q4 FY21.
Profit before tax declined 22.7% to Rs 339.15 crore in Q4 FY22 from Rs 438.80 crore in Q4 FY21. Total expenditure spiked 33.7% to Rs 1,916.32 crore in Q4 FY22 over Q4 FY21. Advertisement and publicity expense soared 42.28% year-on-year to Rs 213.08 crore in Q4 FY22 from Rs 149.76 crore recorded in Q4 FY21.
EBITDA fell 10% to Rs 486.6 crore in Q4 FY22 from Rs 540.8 crore reported in Q4 FY21. EBITDA margin declined to 20.9% in Q4 FY22 as compared to 27.5% posted in Q4 FY21.
The company said, The impact on the results for the quarter and year ended 31 March 2022 is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the quarter and year ended 31 March 2022 are not strictly comparable with the results of the earlier periods presented.
On full year basis, the company recorded 20.6% surge in net profit to Rs 964.56 crore on a 5.9% rise in net sales to Rs 8,189.31 crore in FY22 over FY21.
Meanwhile, the board of directors of the company recommended a dividend of Rs 3 per equity share, for the financial year ended 31 March 2022.
Zee Entertainment Enterprises (ZEEL) is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.
Shares of Zee Entertainment Enterprises were trading 3.76% higher at Rs 238.40 on the BSE.
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