Q1 FY25: ZEEL reports net profit of Rs 118 crore
According to the company, the domestic advertising revenue for the quarter stood at Rs 911 crore
Zee Entertainment Enterprises Ltd (ZEEL) has reported a jump of 7.57% in total income of Rs 2149.5 crore in Q1 FY25 as compared to Rs 1998.2 crore in the same quarter last year.
The company reported a net profit of Rs 118 crore against the loss of Rs 53.42 crore.
The company’s advertising revenue decreased by 3.6% to Rs 911 crore for the quarter ended June 30, 2024 against Rs 940 crore in the same quarter previous year.
Meanwhile, the subscription revenue grew by 8.82% to Rs 987 crore in Q1FY25 against Rs 907 crore in the same period of last year.
The company said that the domestic advertising revenue for the quarter declined by 3.6% YoY, impacted by cricket and general elections. While subscription revenue growth is driven by pick up in linear subscription revenue post NTO 3.0 and ZEE5.
Other sales and services during the quarter were aided by movie releases and higher syndication. The revenue from other sales and services grew by 71.8% to Rs 232 crore against Rs 135 crore in Q1FY24.
The company also mentioned an increase in operating cost YoY was driven by increase in programming cost partially offset by the decline in technology cost. The Programming and Technology cost declined QoQ.
