Report on Shemaroo

ZeeL net profit surges to Rs 400 crore in Q3

Domestic subscription revenue grew by 9.3 per cent.

MUMBAI: Zee Entertainment Enterprises Ltd (ZeeL) has reported a consolidated net profit of Rs 400 crore for the quarter ended 31 December 2020. The company had posted a net profit of Rs 349 crore in the year-ago period.

The company's Q3 consolidated total income rose by 30 per cent to Rs 2,757 crore as against Rs 2,120 crore in December 2019. Consolidated revenue grew by 33.2 per cent to Rs 2,729 crore; excluding content syndication deal of Rs 551 crore, revenue grew 6.3 per cent.

Revenue for the quarter stood at Rs 2,178.1 crore, while the EBITDA was at Rs 715.7 crore.

The report stated that domestic advertising grew by 7.5 per cent and domestic subscription revenue was up 9.3 per cent on a like-to-like basis.

On the outbreak of the pandemic affecting economic activities, ZeeL stated, “The impact on the results for the quarter and nine months ended 31 December 2020 is primarily due to restrictions caused by the Covid2019 on the business activities.”

Therefore, the results for the quarter and nine months ended 31 December 2020 are not strictly comparable with the results of the earlier periods presented, it further added. "The Group has assessed the impact of this pandemic and the same has been incorporated in the plans going forward.”

In its regulatory filing the company also mentioned that it has taken numerous steps aimed at augmenting liquidity, conserving cash including various cost-saving initiatives, and sale of non-core and other assets.

"Based on the assessment and steps being taken, the Group expects no further adjustments to the carrying amounts of the property plant and equipment, intangible assets (including goodwill), investments, receivables, inventory and other current assets, as at 31 December 2020," it said.

Further, Zee has sold 49 per cent equity shares of its wholly owned subsidiary, Fly-By-Wire International Pvt Ltd. During the quarter, the board of directors of the company have approved acquisition of film production and distribution business from Zee Studios Ltd (a wholly owned subsidiary of the Company). The business transfer agreement is yet to be finalised and consequently, the effect of this transaction has not been given in these results.

It also highlighted that the network share declined due to FTA channels losing share and decline in overall Hindi movie genre. It reported growth of 18 per cent that includes revenue from music business which has been reclassified as subscription revenue in this fiscal. Comparable growth of 9.3 per cent in domestic business has been driven by both television and Zee5.

Latest Reads
IFTPC urges Maharashtra govt to allow TV, film post-production

MUMBAI: Days after the Maharashtra government shut down all film and television shoots in the state to combat the spread of Covid2019 infections, the Indian Film and Television Producers Council (IFTPC) has beseeched the Shiv Sena-led ruling dispensation to at least permit post-production work in...

Television Production House Post Production
D Tamil undergoes rebranding, launches two new shows

MUMBAI: Celebrating the auspicious occasion of the Tamil New Year and underscoring the focus on culturally relevant content that is family oriented, Dதமிழ் (D Tamil) unveils the brand-new avatar of the channel with a redesigned logo and a slew of wholesome entertainment.

Television TV Channels Regional
BARC week 14: Lizol leads the brands list

The Broadcast Audience Research Council (BARC) of India has released its data for top advertisers and brands for the period between 3 April and 9 April 2021. The data reflects the top 10 advertisers and brands across genres on India’s television, 2+ Individuals, NCCS. All demonstrating ads that...

Television TV Channels Viewership
Not just on Netflix, ‘Army of the Dead’ to be previewed in select theatres

Netflix's latest movie Army of the Dead, directed by Zack Snyder, will have its preview in select theatres before it gets streamed on the OTT platform on 21 May 2021. Even though the streaming giant has not made an official announcement, media reports state that Netflix has decided to screen the...

Television TV Channels Movie Channels
Star India clocks nearly 10 bn viewing minutes for IPL 2021 opener

KOLKATA: Star India network has clocked 323 million total impressions for the opening match of IPL 2021. Although the curtain raiser between defending champions Mumbai Indians and Royal Challengers Bangalore received 42 per cent higher viewership than 2019, it ticked lower viewership than the 2020...

Television TV Channels Sports
Declare journalists frontline workers: Editors Guild urges govt

As the nation weathers the second wave of the Covid2019 outbreak, the news media community is working round the clock to keep the general public informed and apprised of the latest developments.

Television TV Channels News Broadcasting
Quint Digital’s net profit surges to Rs 45 lakh in Q4

NEW DELHI: Quint Digital Media Ltd (QDML)  has reported positive growth during the quarter ended 31 March 2021, posting a net profit of Rs 45 lakh for the period. During the previous quarter, the company had reported a net profit of Rs 18 lakh. Its revenue for operations for the fourth quarter of...

Television TV Channels News Broadcasting
9X Media elevates Kanan Dave to SpotlampE business head

Music network 9X Media, which also owns SpotlampE and other digital products, has elevated marketing lead Kanan Dave to a business head role. As business head for SpotlampE, Dave will drive the next phase of growth, strategy and the creative development for SpotlampE. 

Television TV Channels Music and Youth

Sign up for our Newsletter

subscribe for latest stories

* indicates required