Zee Entertainment Enterprises Ltd (ZEEL) has reported a consolidated net profit of Rs 266. 08 crore for the quarter ended on September 30, 2021, against Rs 93.41 crore for the same quarter last year. The company witnessed an increase of 27.44% to Rs 208.78 crore for the quarter ended June 30, 2021.
The consolidated total income of the network saw an increase of 11.16% to Rs 2010.47 crore against Rs 1808.56 crore in the last quarter ended June 30, 2021. On the YoY basis, the company saw a 14.19% spike to Rs 1760.61 crore for the same quarter last year.
During the quarter, domestic ad revenues grew both YoY and QoQ by 20.1% to Rs 1089.29 crore against Rs 902. 79 crore and 18.9% to Rs 926.61 crore, respectively. The company in the Q2 results said that while revenue grew, Q2 continued to be partially impacted by Covid in the first half of the quarter.
According to the company statement, the subscription revenues fell marginally by 1.5% YoY to Rs 788.51crore in Q2FY22 against Rs 800.29 crore in the previous quarter.
“Delay in NTO 2.0 implementation continues to impact pricing,” the company said. The new implementation timeline for NTO 2.0 is April 01, 2022. Network’s programming cost increased QoQ and YoY due to new launches across all the markets. The network posted an operating cost of Rs 903.68 crore in the current quarter against Rs 866.36 crore in the Q1 FY22 and Rs 834.19 crore in Q2FY 21.
The company said that network share up by 70 bps on the back of new launches across all markets and the new channels contribute 1.2% of viewership share. However, the Total TV viewership down during the quarter due to lower contribution by News & Movies.
