Zee Entertainment reports Q4 PAT at Rs 276 cr

On a consolidated basis, Zee Entertainment Enterprises (ZEEL) reported net profit of Rs 275.80 crore in Q4 FY21 compared with net loss of Rs 766.70 crore in Q4 FY20.

Operating revenue grew 0.8% to Rs 1965.8 crore in Q4 FY21 over Q4 FY20. Advertising revenue grew 8.09% year-on-year (YoY) to Rs 1122.96 crore driven by the continued recovery in macro advertising environment.

Subscription revenue rose 8.36% YoY to Rs 803.35 crore in Q4 FY21. The company saw like to like growth (excluding reclassification of music subscription revenue) of 5.6% and 5.8% for the quarter and year respectively, primarily driven by ZEE5.

Revenue from other sales tumbled 76.86% to Rs 39.51 crore in Q4 FY21 due to continued impact of pandemic on theatrical revenues and reclassification of music revenue to subscription.

ZEEL reported pre-tax profit of Rs 438.80 crore in Q4 FY21 compared with pre-tax loss of Rs 799.70 crore in Q4 FY20. The company reported EBITDA profit of Rs 540.80 crore in Q4 FY21 as against EBITDA loss of Rs 283.90 crore in Q4 FY20.

Programming cost (excluding one-time inventory write-off of Rs 259.8 crore in Q4FY20) declined by 19.2% during the quarter, primarily due to lower accelerated inventory amortisation this quarter. A&P and other expenses (excluding onetime provision of Rs 343.30 crore in Q4FY20) declined by 14.1% YoY during the quarter.

ZEEL posted a 51.9% jump in consolidated net profit to Rs 800 crore for the year ended March 2021 (FY21) compared with net profit Rs 526.5 crore in the year ended March 2020 (FY20). Operating revenue declined 4.9% to Rs 7,729.90 crore in FY21 over FY20. EBITDA rose 9.5% to 1790.10 crore during the year.

Meanwhile, the board has recommended a dividend of Rs 2.5 per equity share for the financial year ended 2020-21.

Shares of Zee Entertainment Enterprises fell 0.67% at Rs 191.35 on Thursday. ZEEL is a media and entertainment company engaged in providing broadcasting services.

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