ZEE reports 10.5% jump in Q3 net profit

ZEE reports 10.5% jump in Q3 net profitZee Entertainment Enterprises Ltd (ZEE) enjoyed a year-on-year jump of more than 10 per cent in its net profit in the three months through December 31, thanks to an impressive increase in advertising revenues.

Zee on Wednesday announced that its net profit jumped 10.5 per cent to Rs 213.6 crore in the October to December quarter, driven by a 34.3 per cent rise in advertising revenues to Rs 684.31 crore.

The TV entertainment giant's subscription revenue increased 11.4 per cent to Rs 456.5 crore, while net profit margin climbed to 18 per cent in the three-month period under review.

ZEE Chairman Subhash Chandra said the network continued to grow its business, despite the overall challenging economic environment.

Commenting on the quarterly results, Chandra added, "The network shares are on an uptrend, buoyed by the addition of new channels.  Our investments in the sports business continued during the quarter."

Chandra added that ZEE was looking to further expand its portfolio to take advantage of the potential growth opportunities.  Punit Goenka, chief executive of ZEE, said the company generated more revenue in ads even in spite of a decline in inventory across the board.

ZEE shares gained 1.03 per cent to close at Rs 284.45 apiece on Wednesday.