Hindi movies add zing to Zee Entertainment in Q3; net profit up 28.5%

Zee Entertainment Enterprises Limited (ZEEL) reported a 12.1 per cent increase in consolidated revenue in the quarter ended December 31, 2017 (Q3FY18). The income grew from Rs 16.39 billion in Q3FY17 to Rs 18.38 billion in the quarter under consideration. Despite sale of sports business, overall costs increased by 10.7 per cent. The programming cost for the quarter declined by 4.3 per cent Y-o-Y, but increased 16.3 per cent Q-o-Q. The sequential increase was due to release of two mid-budget Hindi movies during the quarter and telecast of special properties on channels related to brand refresh. Advertising, publicity and other expenses increased by 50 per cent Y-o-Y on account of brand refresh, 25-year celebration related events and promotion cost associated with movies.