Zee Entertainment reports 40.3% profit fall to ₹55.6cr, EBITDA 3.8%
Business
Zee Entertainment just had a tough quarter: its net profit dropped 40.3% compared to last year, landing at ₹55.6 crore.
Rising expenses have squeezed margins too, with EBITDA nearly halved and now at just 3.8%.
Zee's revenue up 13% to ₹2,225cr
Even with profits down, Zee's revenue actually grew 13% this quarter to ₹2,225 crore, mostly thanks to more people subscribing.
But higher programming and marketing costs ate into gains.
On top of that, Zee's stock slid another 6.4% today and is down 27% this year, as legal battles like the ICC TV rights dispute keep weighing on investor confidence.