Media firm Zee Entertainment Enterprises Ltd (ZEEL) today reported a 28.27 per cent increase in consolidated net profit at Rs 321.72 crore for the December quarter, mainly on account of higher income.
The company had posted a net profit of Rs 250.80 crore during the same period previous fiscal, ZEEL said in a regulatory filing.
Total revenue during the quarter under review grew 11.49 per cent to Rs 1,886.11 crore as against Rs 1,691.58 crore in the year-ago period.
"The slower growth in the last four quarters was due to specific events which required advertisers to recalibrate spends. As the impact of these factors is now behind us, ad spends have bounced back strongly and outlook remains encouraging," ZEEL MD and CEO Punit Goenka said.
Consolidated advertisement revenue during the period stood at Rs 1,202.02 crore as against Rs 955.45 crore in the corresponding quarter previous fiscal, up 25.80 per cent.
Subscription revenue during the quarter was Rs 501.69 crore compared to Rs 593.46 crore in the year-ago period.
EBITDA for the quarter stood at Rs 5,944 million and EBITDA margin stood at 32.3 per cent, the company said.
"Our domestic ad revenue growth of 26 per cent is a testimony to the fact that television continues to remain the most effective medium for brand building," Goenka said.
ZEEL stock was trading 3.41 per cent down at Rs 592.20 on BSE.
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