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Zee Entertainment Q1 results: Net profit rises 21.7% to ₹143.7 crore
In Q1FY25, ZEEL had incurred restructuring costs of Rs 28.6 crore after the Zee-Sony merger did not go through. The net profit in Q1FY26 also includes gains from the company's portfolio rationalisation initiative and the treatment of Margo Networks as a discontinued operation. Margo Networks had incurred a loss of Rs 7.6 crore in Q1FY25. On a sequential basis, the company's net profit declined by 23.7 per cent in the April-June quarter.
The Mumbai-based broadcaster's revenue from operations decreased by 14.3 per cent to Rs 1,824.8 crore in Q1FY26, on a year-on-year (YoY) basis. ZEEL's other income rose by 31.6 per cent to Rs 25 crore for the quarter ended June 30, compared with the same quarter last year.
The company's advertising revenue fell by 17 per cent to Rs 758.5 crore YoY in the April-June quarter. This decline was attributed to an extended sports calendar and a slowdown in FMCG (fast-moving consumer goods) spending, as per its investor presentation.
'The increase in digital subscription revenue was offset by a decline in linear subscription revenue due to a fall in PayTV subscribers. Other sales and services (down 64 per cent to Rs 84.6 crore YoY) declined due to lower theatrical and syndication revenue,' the company stated in its presentation.
Its profit before interest, depreciation, and tax (PBIDT) decreased by 8.8 per cent to Rs 264 crore for the quarter ended June 30, compared with the same quarter last year.
Meanwhile, the total revenue of ZEE5, the company's streaming platform, increased by 30 per cent to Rs 290 crore in the April-June quarter, on a YoY basis. ZEE5 also saw a Rs 111.9 crore reduction in its EBITDA (earnings before interest, taxes, depreciation, and amortisation) in Q1FY26, compared with the same period last year. During this quarter, the platform released 17 shows and movies, including five original productions.
'Accelerating growth, profitability, and cash generation continue to remain our priority, and this will further be driven by the new initiatives we are working on," said Mukund Galgali, Deputy Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of ZEEL, in the company's investor call.
He added, 'Within the music business, our profitability continues to remain fairly healthy, and we are further diversifying our catalogue into other language markets.'
'Over the last couple of quarters, the team has put in significant efforts to enhance our content offerings in every market," said Punit Goenka, CEO of ZEEL, during the investor call. "I am pleased to share that we are beginning to witness positive momentum in this direction, with our linear viewership share touching 16.8 per cent in Q1, further fortifying our position as a strong player in the industry. In fact, during the month of June itself, we clocked a viewership share of 17.8 per cent, which is nearly a two-year high.'
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