Subscription revenues at Rs 528.2 crore recorded a growth of 14.2% over Q1 FY16. During the quarter, domestic subscription revenues stood at Rs 417.9 crore while international subscription revenues stood at Rs 110.3 crore.
India's leading entertainment company Zee Entertainment Enterprises Ltd (Zeel) reported a 19.2% year-on-year growth in advertising revenues in the first quarter. Of Rs 912 crore generated in advertising revenues, Rs 841.5 crore was domestic while Rs 70.5 crore was international.
The consolidated operating profit or ebitda (earnings before interest, taxes, depreciation and amortisation) for the April to June quarter stood at Rs 453.2 crore and consolidated operating revenue at Rs 1,571.6 crore increased 18.5% on year. Profit after tax (PAT) for the June quarter was Rs 218.1 crore. While ebitda margin stood at 28.8%, PAT margin was 13.9%.
Commenting on the company's performance, Dr Subhash Chandra, chairman, Zeel, said, the financial results once again highlight the strong underlying fundamentals of the company. "The advertising and subscription revenues continue to drive the company's growth. Taking a long-term view of the business trends we are committed to become a global content company and will make suitable investments to achieve that objective," said Chandra.
Subscription revenues at Rs 528.2 crore recorded a growth of 14.2% over Q1 FY16. During the quarter, domestic subscription revenues stood at Rs 417.9 crore while international subscription revenues stood at Rs 110.3 crore.
Punit Goenka, managing director and chief executive officer, Zeel, said, "We have started the new fiscal on a positive note, delivering successful result in the first quarter. On the back of continued steady economic recovery, the company once again managed to outperform the market.
"The advertising growth is holding up and the subscription revenue is maintaining a steady growth. While the advertising could receive a fillip if the consumer spending improves, on the subscription front the industry awaits the regulatory guidelines which will shape the subscription revenue growth over the next few quarters."
According to Goenka, the preference of the consumers keeps on evolving with time and Zeel has consistently stayed ahead of the curve, and in many cases helped shape it. "As an entertainment company, it is imperative for us to experiment with new content and innovate new formats, and we will continue to do so. We are making investments in new growth verticals with an aim that they will start contributing to company's success in the future. An effort in this direction was the relaunch of company's paid OTT platform dittoTV with new subscription plans. Our movie production business has started delivering results which is evident with movies like Sairat which became the highest grossing Marathi movie of all time."
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