Zee Entertainment Enterprises Limited (ZEEL) on Wednesday announced Q2FY19 results, showing that the revenues have gone up by 24 per cent.
Zee Entertainment Enterprises Limited (ZEEL) on Wednesday announced Q2FY19 results, showing that the revenues have gone up by 24 per cent.
The company’s revenue rose 24.5% year on year (yoy) to Rs 1,976 crore, higher than the Rs 1,848 crore consensus estimate. Net profit, however, fell 38% yoy to Rs 386 crore in the quarter, a shade below the Bloomberg consensus estimate of Rs 400 crore.
The company had reported an exceptional gain of Rs 134.6 crore in the year-ago period due to the sale of its sports broadcast business.
"Our broadcast business continues to grow at an impressive pace as evident from the domestic advertising and subscription revenue growth numbers. We continue to consolidate our viewership share," said ZEEL managing director and CEO Punit Goenka.
Accoridng to ZEEL’s exchange filing, the operating income (the earnings before interest, tax, depreciation and amortisation) has seen a 37% y-o-y jump to Rs 653 crore during the quarter, way above the estimated Rs 577 crore. The operating margin expanded to 33% from 30.1% a year ago.
Analysts are pleased with the better-than-expected advertisement revenue and higher operating margins. “The management also sounds confident on the growth of its digital platform, ZEE5,” Angel Broking’s Mayuresh Joshi was quoted as saying.
Meanwhile, Zee News has launched a series of new shows which highlight and discuss the issues around upcoming assembly elections and the 2019 Lok Sabha elections. Among these are 'Taal Thok Ke: Special Edition' which caters to the issues related to elections with esteemed panel of politicians and 'India ka DNA Test City Edition' in which ZEE News anchors and reporters discover which way the election wind is blowing in different cities.
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