Fri. Mar 29th, 2024
Zee Entertainment-InvescoSource: Best Media

On Thursday, Zee Entertainment Enterprise Ltd reported a consolidated net profit of Rs 272.36 crore for the last quarter ending March 2021. 

Consolidated revenue of the company has risen 0.8 per cent year-on-year to Rs 1,965.8 crore in Q4 of FY21, and its advertisement revenue grew 8.1 per cent to Rs 1,122.96 crore. While the subscription revenue rose 8.4 per cent to Rs 803.35 crore during this quarter, said the company in its BSE filing.

“Domestic advertising revenue growth of 8.9 per cent YoY driven by the continued recovery in the macro advertising environment. Like to like growth (excluding reclassification of music subscription revenue) of 5.6 per cent and 5.8 per cent for the quarter and year respectively, was primarily driven by ZEE5,” said Zee Entertainment.

Other sales and services for the quarter fell 76.9 per cent, standing at Rs 40 crore due to the sustained impact of the covid-19 cubing impositions on theatrical revenues and reclassification of music revenue to subscription, the company added. 

Other income from other sources fell 54.3 per cent at Rs 18.57compared to the year-ago quarter impacted profitability in Q4. Revenue from ‘Other sales and services’ stood at Rs 39.51 crore while it was at Rs 170.78 crore in the same time of the previous year.

“The impact on the results for the quarter and year ended 31 March 2021 is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the year ended 31 March 2021 are not strictly comparable with the results of the earlier periods presented,” said ZEEL.

 At the operational level, EBITDA (earnings before interest, tax, depreciation and amortisation) was at Rs 540.8 crore for the March ending quarter against the loss of  EBITDA at Rs 283.9 crore in the same period in the last fiscal,  with a margin of 27.5 per cent.

“Programming cost (excluding one-time inventory write-off of Rs 259.8 crore in Q4FY20) declined by 19.2 per cent during the quarter, primarily due to lower accelerated inventory amortisation this quarter,” said Zee.

Zee further said, “Advertising & promotion, and other expenses (excluding the one-time provision of Rs 343.3 crore in Q4FY20) declined by 14.1 per cent YoY during the quarter.”

 

By Harshita Sharma

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