Zee Entertainment Q2 FY26 results: Profit drops 63% YoY amid weak ad revenue

Zee Entertainment Enterprises Ltd (ZEEL) has reported a decline in both revenue and profit for the second quarter of FY26, weighed down by a drop in advertising income despite higher subscription revenue.

For the quarter ended September 30, 2025, ZEEL’s total revenue stood at Rs 1,995 crore, down from Rs 2,034 crore in the corresponding quarter last year. For the six-month period (H1 FY26), revenue fell to Rs 3,845 crore, compared to Rs 4,184 crore in H1 FY25.

ZEEL’s net profit for Q2 FY26 fell sharply to Rs 76.5 crore, compared to Rs 209 crore in Q2 FY25 — a decline of around 63%. For H1 FY26, profit came down to Rs 220 crore from Rs 327 crore in the same period last year.

Advertising revenue, which remains a key contributor, declined sharply to Rs 806 crore in Q2 FY26 from Rs 901 crore a year earlier. For the half year, advertising revenue dropped to Rs 1,564 crore from Rs 1,813 crore in the previous year’s first half. Subscription revenue, however, showed growth, rising to Rs 1,023 crore in Q2 FY26 from Rs 970 crore in Q2 FY25. For H1 FY26, it stood at Rs 2,004 crore, slightly higher than Rs 1,957 crore in H1 FY25.

Total expenses for the quarter increased to Rs 1,880 crore, up from Rs 1,759 crore in Q2 FY25. However, on a half-year basis, expenses came down to Rs 3,533 crore from Rs 3,700 crore last year, indicating better cost management in earlier quarters. 

Advertising and publicity expenses surged to Rs 369 crore in Q2 FY26 from Rs 259 crore in the same period last year. For H1 FY26, these costs rose to Rs 644 crore, compared to Rs 549 crore in H1 FY25. 

Depreciation and amortization expenses declined to Rs 57 crore in Q2 FY26 from Rs 73 crore in the year-ago quarter. For the first half, these expenses dropped to Rs 116 crore, down from Rs 149 crore a year earlier.