Zee Entertainment Enterprises standalone net profit declines 32.28% in the June 2018 quarter
19 - Jul - 2018 12:00 AM | 14 hours ago
Net profit of Zee Entertainment Enterprises declined 32.28% to Rs 366.49 crore in the quarter ended June 2018 as against Rs 541.16 crore during the previous quarter ended June 2017. Sales rose 17.92% to Rs 1563.26 crore in the quarter ended June 2018 as against Rs 1325.73 crore during the previous quarter ended June 2017.
The announcement was made after market hours yesterday, 17 July 2018.
Meanwhile, the S&P BSE Sensex was up 118.60 points, or 0.32% to 36,638.56
On the BSE, 1.43 lakh shares were traded in the counter so far, compared with average daily volumes of 69,000 shares in the past two weeks. The stock had hit a high of Rs 533.70 and a low of Rs 519 so far during the day. The stock hit a 52-week high of Rs 619.35 on 17 January 2018. The stock hit a 52-week low of Rs 477.25 on 18 October 2017.
On a consolidated basis, Zee Entertainment Enterprises' earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16.8% to Rs 565.70 crore in Q1 June 2018 over Q1 June 2017. EBITDA margin stood at 31.9%.
Advertising revenue for the quarter was Rs 1146 crore, recording a growth of 18.6% YoY. Domestic advertising revenue grew by 22.3% YoY to Rs 1087 crore. International advertising revenue for the quarter was Rs 59 crore. Subscription revenue for the quarter was Rs 518.60 crore. Domestic subscription revenue grew by 12.3% YoY to Rs 425.20 crore. International subscription revenue was Rs 93.40 crore.
Subhash Chandra, Chairman, Zee Entertainment Enterprises said the growth in consumption, now being driven by rural as well, bodes well for advertising spends. In addition, increasing availability and adoption of digital medium, across different sectors, will have a positive effect on the country's growth trajectory.
Zee Entertainment Enterprises is one of India's leading media and entertainment companies. It is amongst the largest producers and aggregators of entertainment content in the world.
