Zee Entertainment Q4 net profit declines 33% to Rs 182 cr; expenses up 27%

Zee Entertainment Enterprise Ltd (ZEEL) on Thursday reported a consolidated net profit of Rs 181.93 crore for the March quarter.

The company had posted a net profit of Rs 272.36 crore in the January-March quarter a year ago, according to a BSE filing.

Its total income during the quarter under review was Rs 2,361.17 crore. It was at Rs 1,984.39 crore in the year-ago period.

"The impact on the results for the quarter and year ended March 31, 2022 is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the quarter and year ended March 31, 2022 are not strictly comparable with the results of the earlier periods presented," ZEEL said.

Revenue from advertisement was at Rs 1,119.83 crore in the latest March quarter as against Rs 1,122.96 crore in the preceding year.

While its subscription revenue was at Rs 854.86 crore as against Rs 803.35 crore in the March quarter of FY21.

Revenue from 'other sales and services' was at Rs 348.21 crore in comparison with Rs 39.51 crore a year ago.

ZEEL's total expenses in the quarter under review were at Rs 1,921.80 crore. It was Rs 1,516.10 crore in the corresponding quarter previous year.

For the fiscal year ended March 2022, ZEEL's net profit was at Rs 955.77 crore. It had reported a net profit of Rs 793.04 crore in the previous fiscal.

Its total income was at Rs 8,310.64 crore in 2021-22 over Rs 7,840.35 crore in FY 2020-21.

On Thursday, shares of ZEEL settled 0.72 per cent up at Rs 229.75 on the BSE.