Zee Entertainment Enterprises Limited (ZEE) has reported its Q2 fiscal 2017 consolidated revenue of Rs 16,954 million, a marked improvement from previous quarter’s Rs 15,716 million. It is up by 23 per cent YoY. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter stood at Rs 4,892 million and EBITDA margin stood at 28.9 per cent. ZEE recorded PAT of Rs 2,440 million in Q2FY17 and PAT margin stood at 14.4 per cent.
Advertising revenues grew by 15.7 per cent over Q2FY16 to Rs 9,592 million. Domestic advertising revenues were Rs 8,800 million while international advertising revenues stood at Rs 792 million for the quarter. In the previous quarter the company posted advertising revenues of Rs 9,120 million.
Subscription revenues were Rs 5,833 million for the quarter ended September 30, 2016 recording a growth of 21.7 per cent over Q2FY16. During the quarter, domestic subscription revenues stood at Rs 4,675 million while international subscription revenues stood at Rs 1,158 million. For the previous quarter ended on June 30, 2016, subscription revenues were Rs 5,282 million.
During Q2FY17 ZEE network’s viewership share, excluding sports, increased by 0.9 per cent as compared to Q1FY17.
Dr. Subhash Chandra, Chairman of ZEEL stated, “Initial signs of uptick in Indian economy are already visible and we should see improvement in economic growth in quarters ahead. Normal monsoon in 2016 after a gap of two years should spur the rural growth. The passage of GST bill is a positive step and would help Indian economy. Commenting on the results of the company, Dr. Chandra added, “ZEE reported well-rounded strong growth in revenues during the first half of fiscal 2017. While we continue to add new channels to our domestic and international broadcasting businesses our new initiatives in movies, music, events and digital are taking shape and have started contributing to growth.”
Punit Goenka, MD and CEO of ZEEL commented, “At ZEE we are pleased to deliver yet another quarter of satisfying business and financial performance. Our advertising revenues continue to grow ahead of market on the back of improving viewership share and better monetization of our bouquet. Growth in domestic subscription revenue was aided by catch up revenue in Q2.”