Zee Entertainment Q1 Results: Stock Drops 5% Due to Decline in Ad Revenue
Zee Entertainment Enterprises Ltd. reported lower-than-expected revenue, net profit, and EBITDA in its June quarter results. Adjusted net profit fell by 7% year-on-year, while EBITDA decreased by 12% compared to the previous year. Following the earnings announcement, Zee's stock is trading 5.44% lower.
Zee Entertainment Enterprises Ltd. reported its June quarter results on Tuesday, July 22. Revenue declined 14% year-on-year to ₹1,825 crore from ₹2,130.53 crore in the same quarter last year. Adjusted net profit fell 7% to ₹143.7 crore, missing CNBC-TV18's poll estimate of ₹158.83 crore. EBITDA decreased by 12% to ₹239 crore, with margins rising to 13.1%. Adjusted revenue dropped 17% to ₹758.5 crore, and subscription revenue slightly decreased to ₹982 crore.
Shares of Zee Entertainment Enterprises Ltd. are trading 5.44% lower at ₹134.13 following the earnings announcement. The stock is up 9% year-to-date.
According to the source: CNBC TV18.
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