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Zee Entertainment gains on strong Q1 performance.
Zee Entertainment Enterprises was up 0.69% to Rs 363.45 at 11:04 IST on the BSE after the company's consolidated net profit rose 62.6% to Rs 530.57 crore on 13.3% increase in net sales to Rs 2008.12 crore in Q1 June 2019 over Q1 June 2018.
On the BSE, 3 lakh shares were traded in the counter so far compared with average daily volumes of 5.31 lakh shares in the past two weeks. The stock had hit a high of Rs 370.85 and a low of Rs 358.55 so far during the day. It hit a 52-week high of Rs 540.40 on 8 August 2018 and a 52-week low of Rs 288.95 on 25 January 2019.
Consolidated EBITDA grew by 16.6% to Rs. 659.80 crore in Q1 June 2019 over Q1 June 2018. EBITDA margin stood at 32.9%.
Zee Entertainment Enterprises said that the growth was driven by the strong performance of domestic broadcast and digital businesses.
Consolidated advertising revenue for the quarter was Rs 1186.7 crore, growth of 3.6% YoY. Domestic advertising revenue grew by 4.2% YoY to Rs 1132.2 crore. International advertising revenue for the quarter was Rs 54.5 crore.
Consolidated subscription revenue for the quarter was Rs 708.8 crore, growth of 36.7% YoY. Domestic subscription revenue grew by 46.7% YoY to Rs 624 crore. International subscription revenue was Rs. 84.8 crore.
Punit Goenka, managing director and CEO, ZEEL, commented that ZEEL has delivered another quarter of strong performance despite the operational challenges faced by the industry due to the implementation of TRAI tariff order. The company is confident that the new tariff regime is going to be beneficial for all the stakeholders and will greatly improve the consumer experience.He further added that the company has witnessed a strong uptake of our channels across markets which is reflected in the 47% growth of its domestic subscription revenues.
Zee Entertainment Enterprises is one of India's leading media and entertainment companies.
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