Zee Entertainment Enterprises posted a consolidated net profit of Rs 213.8 crore in Q1 FY22, higher than net profit of Rs 30.37 crore in Q1 FY21.
Net sales increased 35% to Rs 1775 crore in Q1 FY22 from Rs 1312 crore posted in Q1 FY21. The company's profit before tax soared five times to Rs 303.25 crore in Q1 FY22 from Rs 57.65 crore posted in Q1 FY21.Consolidated EBITDA grew 56.4% to Rs 344 crore in Q1 FY22 over Q1 FY21. EBITDA margin for the quarter stood at 19.4%. Zee said lower ad revenues on one hand and increase in costs due to lockdown (Rs 27.1 crore) on the other affected EBITDA for the quarter.
Advertising revenue soared 120% to Rs 926.61 crore in Q1 FY22 over Q1 FY21. Domestic ad revenues for both Q1FY22 and Q1FY21 were impacted by lockdowns. Compared to Q1FY20, domestic ad revenues were lower by 22.7%.
Subscription revenue increased by 9.2% to Rs 813 crore in Q1 FY22 from Rs 744 crore in Q1 FY21. The media company said embargo on pricing change due to NTO 2.0 litigation continued to hurt domestic television pay revenue growth. The sequential 2% growth over Q1FY21 is driven primarily by digital business.
Zee Entertainment Enterprises is a media and entertainment company engaged in providing broadcasting services.
Shares of Zee Entertainment were trading 2.14% lower at Rs 192.45 on BSE.
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