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Zeel Q2 revenue up 7.4%, profit up 6.9% in FY20

Advertising revenue for the quarter grew by 1.2% YoY while Domestic subscription revenue grew by 26.8% YoY

For the second quarter of FY20, Zee Entertainment Enterprises Limited (Zeel) reported Total revenue for the quarter was Rs 21,220 million, growth of 7.4% YoY. The growth was driven by the strong performance of domestic broadcast and digital businesses.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) for the quarter grew by 2.5% to Rs 6,929 million and EBITDA margin stood at 32.7%.

PAT for the quarter was Rs 4,132 million, up 6.9% from Rs 3,867 million in the corresponding quarter of the previous year.

Advertising revenue for the quarter was Rs 12,247 million, growth of 1.2% YoY. Domestic advertising revenue grew by 1.4% YoY to Rs 11,690 million. International advertising revenue for the quarter was Rs 557 million.

Subscription revenue for the quarter was Rs 7,235 million, growth of 19.0% YoY. Domestic subscription revenue grew by 26.8% YoY to Rs 6,459 million. International subscription revenue was Rs 776 million.

Punit Goenka

Punit Goenka, Managing Director and CEO, Zeel, said, “I am pleased with the performance we have exhibited during the quarter. Our entertainment portfolio continues to grow from strength to strength across all formats and maintained its leading position. Our television network has emerged stronger post the implementation of tariff order on the back of a strong customer connect and brand pull of its channels. ZEE5 continued to gain traction across audience segments and markets, driven by its compelling content library and expanding list of partnerships across the digital eco-system.

“This strong operating performance allowed us to deliver industry leading growth in both advertising and subscription despite the tough macro-economic environment. Domestic subscription growth of 27% has reaffirmed the value proposition our television network has built over the years. The impact of tariff order has now largely settled down and has brought increased transparency along with improved monetization.

“Our domestic advertising revenue growth, though significantly lower than historical trend, is higher than the industry growth. We have witnessed an improvement in ad spends through the quarter and we believe that the onset of festive season along with measures taken by the government will help revive the consumption growth.”

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