Zee Entertainment posts first quarter net profit of Rs 209 crore

Zee Entertainment Enterprise Ltd on Friday reported a consolidated net profit of Rs 208.78 crore for the first quarter ended June 2021.

The company had reported a net profit of Rs 29.28 crore in the April-June quarter a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a BSE filing.

Its total income during the quarter under review was Rs 1,808.56 crore as against Rs 1,338.41 crore in the corresponding period a year earlier.

ZEEL's total expenses stood at Rs 1,501.62 crore during the June 2021 quarter.

According to the company, the impact on its result is primarily due to restrictions caused by the COVID-19 on the business activities, hence it is not comparable.

"The impact on the results for the quarter ended 30th June 2021 and earlier quarters is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the quarter ended 30 June 2021 are not strictly comparable with the results of the earlier periods presented," it said.

Revenue from advertisement was at Rs 926.61 crore in the April-June 2021 quarter. It was Rs 421.06 crore in the corresponding quarter a year ago.

Subscription revenue was at Rs 813.05 crore as against Rs 744.311 crore in Q1/FY 2020-21.

Revenue from 'other sales and services' was at Rs 35.32 crore in the quarter under review. It was Rs 146.63 crore a year ago.

Its shares on Friday settled at Rs 196.65 a unit on the BSE, down 2.50 per cent from the previous close.