Zee Entertainment posts third quarter net profit of Rs 398 crore

Zee Entertainment Enterprise reported a consolidated net profit of Rs 398.01 crore for the third quarter ended December 2020

Zee Entertainment Enterprise Ltd (ZEEL) on Thursday reported a consolidated net profit of Rs398.01crore for the third quarter ended December 2020.

The company had reported a net profit of Rs348.60crore in the year-ago period, ZEEL said in a BSE filing.

Its total income during the quarter under review was at Rs 2,756.93 crore. The same was at Rs 2,119.60 crorein the same period a year ago.

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

"The impact on the results for the quarter and nine months ended December 31, 2020, is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the quarter and nine months ended December 31, 2020, are not strictly comparable with the results of the earlier periods presented," ZEEL said.

The company's revenue fromadvertisement was at Rs 1,302.03 crore in the October-December quarter of 2020. It was at Rs 1,230.82 crore in the year-ago period.

Subscription revenue was at Rs 841.91 crore and revenue from 'other sales and services' stood at Rs 585.42 crore.

In late afternoon trade, shares of Zee Entertainment Enterprise Ltd rose over 2 per cent to Rs249.35 on BSE.