Zee Entertainment Enterprises has reported that its consolidated revenue increased by 17% to Rs 1595.1 crore for the quarter ended December 31, 2015, compared to Rs.1363.7 last fiscal. However, its consolidated net profit stood at Rs.274.4 crore compared to Rs.306.5 crore during the corresponding period of last fiscal, which marks a decline of 10.89%.
Advertising revenues for the quarter stood at Rs 941.9 crore, recording a growth of 26.8% over Q3 FY15. During the quarter, domestic advertising revenues stood at Rs 860.7 crore while international advertising revenues stood at Rs 81.2 crore. Operating profit (EBITDA) for the quarter stood at Rs 430.2 crore and EBITDA Margin stood at 27.0%. Profit after Tax (PAT) for the quarter ended December 31, 2015 was Rs 274.4 crore and PAT Margin stood at 17.2%.
Total subscription revenues for the quarter were Rs 521.8 crore. During the current quarter, domestic subscription revenues stood at Rs 418.8 crore, registering a growth of 21.2% over corresponding period last fiscal, while international subscription revenues were Rs 103 crore; up 2.3% over last fiscal.
Other sales and services like syndication sales, film distribution, music distribution revenues, digital business revenues among others, stood at Rs 131.4 crore during the quarter, compared to Rs 175 crore last fiscal.
Selling and other expenses in the quarter stood at Rs 333.7 crore, as compared to Rs 255.6 crore in the corresponding period last fiscal, registering an increase of 30.6%. Total costs incurred by the company in Q3 quarter were Rs 1164.9 crore, an increase of 15.3% over the corresponding period last fiscal.
Commenting on the results of the Company, Dr. Subhash Chandra, Chairman, ZEE, said, “ZEE saw an impressive performance in the third quarter. We grew ahead of the market through improved performance of our existing channels as well as new channels. Our vision is to provide long term sustainable growth to our shareholders. Our investments continue to provide us with positive results. We will continue to identify and pursue profitable investment opportunities that will enable us to join the ranks of world’s leading media companies and become the first Indian media company to do so.”
Punit Goenka, Managing Director and CEO, ZEE, commented, “Continuing in line with our robust performance in the previous few quarters, we have witnessed steady growth in the third quarter of fiscal 2016 as well. Our focus will remain on creating innovative and high quality entertainment that can be delivered to audiences across consumption platforms. We believe that providing excellent content will remain key for monetizing revenues, from both advertising and subscription standpoint.”
The channel delivered a weekly average of 12 shows among top 50 shows during the quarter. Through its strong presence worldwide, ZEE entertains over 959 million viewers across 169 countries.