Zee Entertainment Q2 Results: Net profit jumps 61% YoY to ₹209.5 crore, margin rises to 16%; shares up 5%

The company's operating revenue came in at ₹2,000.7 crore, down 18% YoY and 6% QoQ. 

EBITDA, or earnings before interest, taxes, depreciation, and amortisation fell 4% YoY to ₹321 crore. However, on a sequential basis, the figure grew 18%. 

EBITDA margin increased to 16% in the quarter under review against 13.6% in the year-ago period. 

The company added that its domestic advertising revenue for the quarter declined by 9% YoY, impacted by a muted ad spending environment in Q2.

"While ad spending is picking up with the onset of the festive season, sustained recovery remains the key," ZEEL said in its investor presentation.

Shares of the company after the result announcement were trading over 5% higher at ₹132.20 apiece on the BSE.

The company said its growth strategy includes investing in high growth segments such as digital (ZEE5), international business, music, and language markets. 

The company said the decline in operating costs YoY was driven by lower programming and technology costs. It added that it has followed strong cost discipline across every element of the cost structure.

Punit Goenka re-appointed as MD and CEO

Zee Entertainment Enterprises announced that the company's board has approved the re-appointment of Punit Goenka as the Managing Director & Chief Executive Officer of the Company for a period of five years with effect from January 1, 2025, to December 31, 2029. 

Final Dividend update

The company added that the record date for determining the entitlement of members for the final dividend for the financial year ended March 31, 2024 is Friday, November 8, 2024. The dividend, if approved by the shareholders will be paid on or after Friday, November 29, 2024.