Zee’s Q3 FY26 revenue up 15% YoY to Rs 2,280 cr

Zee Entertainment Enterprises Ltd, in its financial results for the nine month period ended December 2025 and the third quarter of FY26.

For the third quarter of FY26, Zee reported operating revenue of Rs 2,280 crore, up 15% year on year from Rs 1,969 crore in Q3 FY25. Advertising revenue during the quarter came in at Rs 852 crore, down 9% year on year. Subscription revenue grew 7% year on year to Rs 1,050 crore, aided by digital growth.

Subscription revenue increased 4% year on year to Rs 3,055 crore, supported by growth in digital subscriptions. Other sales and services rose 45% year on year to Rs 603 crore, driven by content monetisation and movie related revenues. 

Zee5 revenue grew by 45% y-o-y in nine month period to Rs 1018.8 crore. Zee5 reported a total revenue of Rs 418 crore in Q3 FY26, marking a sharp increase from Rs 241 crore in the corresponding quarter of the previous year. The year-on-year growth reflects stronger monetisation and improved scale across the platform during the quarter.

The company’s revenue trajectory has shown steady momentum through the year, culminating in a 73% year-on-year rise in Q3 FY26, underscoring the impact of content launches and tighter cost controls on overall performance.

For the nine month period ended December 2025, Zee reported operating revenue of Rs 6,074 crore, compared with Rs 6,110 crore in the corresponding period last year, reflecting a marginal year on year decline. Advertising revenue stood at Rs 2,416 crore, down 12% year on year, as subdued domestic advertising demand weighed on performance.

Total expenditure during the nine month period rose 5% year on year to Rs 5,459 crore. Operating costs were Rs 3,355 crore, personnel expenses stood at Rs 650 crore, advertising and promotion expenses were Rs 993 crore, and other expenses amounted to Rs 462 crore. Higher programming and marketing spends led to pressure on margins.

EBITDA for the nine months declined 33% year on year to Rs 615 crore, with EBITDA margin contracting to 10.1 percent from 14.9% in the year ago period. Profit before tax from continuing operations fell 23% year on year to Rs 514 crore, while profit after tax from continuing operations declined 25% to Rs 375 crore. Profit for the period also stood at Rs 375 crore, down 24% compared with the same period last year.

Quarterly expenditure increased 23% year on year to Rs 2,040 crore. Operating costs stood at Rs 1,306 crore, personnel expenses were Rs 216 crore, advertising and promotion expenses were Rs 348 crore, and other expenses were Rs 170 crore, reflecting higher programming and content investments.

EBITDA for Q3 FY26 declined 24% year on year to Rs 241 crore, with EBITDA margin at 10.5% compared with 16.1% in the year ago quarter. Profit for the quarter stood at Rs 155 crore, down 5% year on year.