Zee Entertainment on Tuesday announced the financial results for the quarter ending June 30, 2020. Zee Entertainment reported a net profit of Rs 29.28 crores, up from the net loss of Rs 765.82 crores in Q4 FY 20 due to write-offs. ZEEL’s revenue from operations and total expenses lowered in Q1 FY 21 compared to Q4 FY 20 due to COVID-19.
Results at a glance
- Total revenues at Rs 1338.41 crores
- Total expenses at Rs 1280.8 crores
- Net profit at Rs 29.28 crores in Q1 FY 21
- Stable subscription revenues but advertising revenue hit by 66%
ZEEL’s subscription revenues in Q1 FY 21 remained stable at Rs 743.34 crores, up from Rs 741.36 crores in the previous quarter but its advertising revenue downfall led to the decrease in total revenues.
ZEEL’s advertisement revenue took a hit dropping down to Rs 421.06 crores, down from Rs 1038.94 crores in Q4 FY 20. Total revenues stood at Rs 1338.41 crores in Q1 FY 21, down from Rs 1991.74 crores in the previous quarter.
ZEEL’s total expenses came down on the account of reduced operational costs and other expenses. Total expenses stood at Rs 1280.8 crores, down from Rs 2677.77 crores in the previous quarter.
ZEEL’s net profit stood at Rs 29.28 crores, up from the net loss of Rs 765.82 crores in the previous quarter due to write-offs.
ZEEL has bounced back in viewership shares post lockdown with 19.2% all India entertainment share over 4 weeks. The resumption of original content and the launch of two channels on FTA platforms led to a recovery in market share. Domestic subscription revenues grew by 6.2% Y-o-Y while domestic advertising revenues went down by 66% Y-o-Y.