Stock Market

Zee Entertainment Q4 net rises 13%, ad revenue grows 29%

Chillicious Team

Zee Entertainment Enterprises has posted a net profit of Rs 260.6 crore in January-March quarter up 12.9 percent from Rs 230.8 crore in corresponding quarter last fiscal. During the quarter, its total income rose 13 percent at Rs 1531.6 crore against Rs 1347.1 crore on annual basis.

According to a CNBC-TV18 poll, the media company was expected to see net profit at Rs 273.3 crore in January-March quarter, up 18.4 percent and total income rising 10.8 percent at Rs 1492.7 crore in year-ago period.

In the fourth quarter, its EBITDA jumped 52.8 percent at Rs 413.5 crore against Rs 270.7 crore while EBITDA margin stood at 27 percent versus 20.1 percent year-on-year.

During the period, its advertising revenue increased 29.1 percent at Rs 864.5 crore from Rs 669.7 crore and subscription revenue also increased 16.4 percent at Rs 594.4 crore against Rs 510.8 crore year-on-year.

Other income, however, fell 18.8 percent at Rs 45.8 crore against Rs 56.4 crore (YoY).

The company has acquired 49 percent equity stake in Fly By Wire and the balance shall be acquired upon receiving regulatory clearances, it said in a company statement.