Zee Entertainment net slips 38% to Rs 386 cr

Zee Entertainment Enterprises (ZEEL) reported a 38.23 per cent decline in consolidated net profit at Rs 386.10 crore for the second quarter ended September 30, 2018.

The company had posted a net profit of Rs 625.09 crore in the July-September period a year ago, ZEEL said in a BSE filing.

However, its total consolidated income rose by 13.98 per cent to Rs 2,034.79 crore during the quarter under review as against Rs 1,785.18 crore of the corresponding quarter last fiscal. Its total expenses were up 20.8 per cent at Rs 1,386.45 crore as against Rs 1,147.05 crore.

Commenting on the results, ZEEL managing director & CEO Punit Goenka said, "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 which is driving our market leading growth."

ZEEL's advertising revenue during the quarter was Rs 1,210.6 crore, registering a growth of 22.7 per cent on yearly basis.

"Domestic advertising revenue grew by 23.3 per cent Y-o-Y to 1,152.6 crore. International advertising revenue for the quarter was Rs 58 crore," ZEEL said in a statement.

Its subscription revenue for the quarter was Rs 608.2 crore million, registering a growth of 21.3 per cent.