Zee Entertainment Enterprises Limited's (ZEEL) revenue for the fiscal ended 31st March grew by 14.1% to Rs 8189.3 crore on the back of higher ad sales and movie business. In the previous fiscal, the revenue stood at Rs 7178.6 crore. The FY21 numbers were normalised for one-off syndication deal revenue in other sales & services of Rs 551.2 crore and operating cost of Rs 473 crore.
Zee's ad revenue jumped 17% to Rs 4396.5 crore from Rs 3748.8 crore. Subscription revenue saw flattish growth at Rs 3246.6 crore against Rs 3243 crore as the pricing embargo continued to impact linear revenue growth. Other sales and services revenue rose 192% to Rs 546.2 crore from Rs 186.9 crore.
The company's expenditure was up 18.3% to Rs 6467.3 crore compared to Rs 5466.8 crore. EBITDA remained flat at Rs 1722.1 crore compared to Rs 1711.9 crore. EBITDA margin came in at 21% compared to 23.8%. The net profit zoomed 32% to Rs 964.4 crore from Rs 732.5 crore.
Operating expenditure for the fiscal increased 23% to Rs 4044.9 crore from Rs 3277.4 crore. The company said that the programming and technology costs were higher YoY driven by higher theatrical revenue, continued investment in ZEE5, and new launches across the markets.
Personnel expenses increased 5.6% to Rs 864.2 crore from Rs 818.3 crore. Advertising & Promotional expenses surged by 40% to Rs 864.3 crore from Rs 616.6 crore on account of new launches and continued investments in ZEE5.
For the fourth quarter, operating revenue increased 18.2% to Rs 2322.9 crore compared to Rs 1965.8 crore in the corresponding quarter last year. Expenditure rose significantly by 29% to Rs 1836.3 crore from Rs 1425 crore. EBITDA was down 10% to Rs 486.6 crore from Rs 540.8 a year ago. Net profit saw a 34% dip at Rs 181.9 crore compared to Rs 275.8 crore.
The company's ad revenue for the quarter dropped marginally to Rs 1119.8 crore compared to Rs 1123 crore. Subscription revenue expanded 6.4% to Rs 854.9 crore from Rs 803.4 crore. Revenue from other sales and services came in at Rs 348.2 crore compared to Rs 39.5 crore.
Operating expenses rose 49% to Rs 1257.9 crore from Rs 844.3 crore. Personnel expenses saw a marginal increase at Rs 218.9 crore against Rs 214.2 crore. Advertising & Promotional expenses swelled by 42% to Rs 213.1 crore from Rs 149.8 crore.
Zee's network market share stood at 17.1% in Q4 compared to 18.9% in Q4 FY21. The company gained market share in Hindi GEC on the back of new launches while strengthening its leadership position in Telugu and Oriya markets.
Meanwhile, Zee Entertainment's video streaming business ZEE5 has seen a surge in its annual revenue even as the losses widened due to investments in content and marketing. The OTT platform's FY22 revenue stood at Rs 549.6 crore, up 31% from Rs 419.1 crore in the previous fiscal.
The operating loss widened 12% to Rs 753.4 crore from Rs 672.6 in the previous fiscal. The EBITDA loss excludes costs incurred by the business on ZEEL network.
ZEE5's Q4 revenue swelled to Rs 161.4 crore, a 50.1% increase from Rs 107.5 crore in Q4 FY21. This was ZEE5's best quarter during the fiscal. EBITDA loss jumped 20% to Rs 195.2 crore from Rs 162.5 crore.
The platform's global Monthly Active Users (MAUs) was up 32.2 million to 104.8 million in Mar’22. Global Daily Active Users (DAUs) increased by 4.4 million to 10.5 million.
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