Zee Entertainment April-June Net Profit Up 22% On Year; Revenue Down 14%

Zee Entertainment Enterprises Ltd. on Tuesday reported a 21.7% on-year rise in consolidated net profit to ₹1.44 billion for the April-June quarter, even as revenue from operations dropped 14.3% to ₹18.25 billion.

Sequentially, profit fell 23.7%, while revenue declined 16.5%. The company missed analysts’ profit estimate of ₹1.66 billion.

Total expenditure declined to ₹16.53 billion from ₹19.41 billion a year ago. Finance cost rose to ₹77 million from ₹55 million. Other income increased to ₹250 million from ₹190 million, while tax outgo stood at ₹535 million, slightly lower than ₹542 million a year earlier.