Zee Leisure on Wednesday reported Rs 53.4 crore loss within the June quarter of the monetary yr 2024 as in opposition to Rs 106-crore revenue posted in the identical interval final yr. The corporate’s promoting income got here in at Rs 901.8 crore, down 6.4 per cent quarter-on-quarter and a couple of.6 per cent year-on-year.
Different gross sales and companies income was up 42 per cent YoY aided by theatrical income from film releases. The corporate’s programming and Expertise prices elevated YoY because of larger content material prices in motion pictures (together with theatrical releases) and funding in ZEE5. Zee’s EBITDA for the quarter got here at Rs 154.9 crore.
Zee flagged muted commercial spending, primarily because of the Indian Premier League, a cricket league, throughout the first two months of the quarter. Programming and know-how prices elevated because of larger
content material prices in motion pictures, whereas advertising and marketing prices elevated on the again of spending on new exhibits, motion pictures, and theatrical releases, Zee mentioned.
“Inexperienced shoots emerged in direction of the quarter finish, with early indicators of commercial spends beginning to decide up, led by fast-moving client items firms,” the broadcaster mentioned.
The outcomes have been poorer than most estimates which anticipated 80-90 per cent drop in revenue. Forward of the outcomes, Kotak Institutional Equities noticed adjusted revenue for the media agency to fall 87.30 per cent YoY to Rs 15.50 crore in opposition to Rs 121.60 crore YoY.
The brokerage agency additionally estimated a rise in internet gross sales of three per cent YoY to Rs 1,902 crore. The brokerage agency factored in a 4.5 per cent decline in ZEE’s advert revenues regardless of the weak base (the affect of Zee Anmol withdrawal from FTA is now within the base).