Zee Entertainment Enterprises Ltd (ZEEL) on October 18 reported 61% jump in net profit at Rs 209 crore for the quarter ended September 30, 2024.
The company’s total income fell 19% to Rs 2,034 crore in Q2FY25 from Rs 2,510 crore in Q2FY24.
The company has also announced re-appointment of Punit Goenka as the Managing Director & Chief Executive Officer for a period of five years with effect from January 1, 2025 to December 31, 2029.
At 3:05 pm on October 18, ZEEL’s shares were trading 5.5% higher at Rs 132.57 apiece.
The company also said the record date for determining the entitlement of members for the final dividend for the financial year ended March 31, 2024 is November 8, 2024. The dividend, if approved by the shareholders will be paid on or after November 29, 2024, it said.
“Domestic advertising revenue for the quarter declined by 9% YoY, impacted by muted ad spending environment in Q2. While ad spending is picking up with onset of festive season, sustained recovery remains the key,” said the company in a stock exchange filing.
Q2FY25 EBITDA margin was at 16%, a sequential rise of 320 bps as effective cost management aided the profitability, said ZEEL.
“Prudent cost discipline and focused execution has enabled us to clock 630 bps improvement in EBITDA margins in a challenging macro environment. Significant progress has been made towards achieving a balanced cost structure, to sustain long-term growth in ZEE5,” added ZEEL.
