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ZEEL ad revenues grew by 9.2 per cent in FY’17

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ZEEL ad revenues grew by 9.2 per cent in FY’17

Zee Entertainment Enterprises Limited (ZEEL) announced consolidated revenues of Rs 1,528 crores for Q4, FY’17. Advertising revenue for the quarter was Rs 846.9 crores. Domestic advertising revenue grew by 8.1 per cent to Rs 794.4 crores while international advertising revenue stood at Rs 52.5 crores.

Subscription revenue for the quarter was at Rs 558 crores, a decline of 6.1 per cent YoY, due to high base on account of catch-up revenues in Q4FY16. Domestic subscription revenue stood at Rs 455.4 crores while international subscription revenue stood at Rs 102.6 crores.

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter stood at Rs 468.7 crores, registering a growth of 14 per cent over Q4FY16. EBITDA margin stood at 30.7 per cent.

Profit After Tax (PAT) for the quarter stood at Rs 1514.2 crores, mainly in part due to sale of the sports business, which led to a gain of Rs 1223.4 crores. EBITDA margin stood at 29.9 per cent.

Advertising revenue for FY17 was Rs 3,673.5 crores, recording a growth of 9.2 per cent over FY16. Subscription revenue for FY17 was Rs 2262.9 crores, growth of 10 per cent over FY16. Domestic subscription revenue grew by 11.2 per cent to Rs 1822.6 crores. On a comparable basis, adjusted for sale of sports, the domestic subscription growth was 13.5 per cent. International subscription revenue grew by 3 per cent to Rs 440.3 crores.

EBITDA for FY17 stood at Rs 1926.9 crores, registering a growth of 27.3 per cent over FY’16 while EBITDA margin stood at 29.9 per cent.

Dr. Subhash Chandra, Chairman, ZEEL, commented, “The Indian economy has exhibited strong resilience with GDP growth of 7% in Q3FY17 despite demonetization of high value currency. Implementation of Goods and Services Tax (GST) would unify India into one market. This along with other reforms and push on infrastructure would accelerate growth from already healthy levels. A normal monsoon as forecasted by IMD could give a fillip to rural consumption.”

Punit Goenka, Managing Director & Chief Executive Officer, ZEEL, commented, “We are happy to deliver yet another quarter of strong financial performance despite the difficult economic environment. Our domestic advertising revenue grew by 8.1% despite the impact of demonetization. After a couple of quarters of weakness, advertising growth appears to be back on track. The GST roll-out could boost advertising spends as a part of potential tax savings might be reinvested. While there is uncertainty regarding the implementation of the new tariff regulation due to pending litigations, we have published the prices of our channels and bouquets. We are confident that with the strong competitive position of our channels in every genre, we will be able to drive subscription business. We have completed the first phase of sale of sports business during the quarter. While this had an impact on revenues, our focus is to strengthen national and regional channel portfolio, along with growing new businesses. We are exploring ways to extinguish preference share liability using the proceeds from the sale of sports business.”

Tags Zee Network Television broadcasting

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