Zee Entertainment Q2 revenue up 24.9% to Rs 19,759 million

New Delhi: Zee Entertainment Enterprises Ltd (ZEEL) has reported consolidated revenue of Rs 19,759 million for the second quarter ended September 30, 2018.

"Total revenue for the second quarter was Rs 19,759 million, posting a growth of 24.9 YoY. The growth was driven by the strong performance of our domestic broadcast business and aided by other businesses," ZEEL said in a statement.

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was Rs 6,757 million with an EBITDA margin of 34.2 percent. PAT for the quarter was Rs 3,867 million.

Advertising revenue for the quarter was Rs 12,106 million, posting a growth of 22.7 percent YoY. Domestic advertising revenue grew by 23.3 percent YoY to 11,526 million. International advertising revenue for the quarter was Rs 580 million.

Subscription revenue for the quarter was Rs 6,082 million, posting a growth of 21.3 percent YoY. Domestic subscription revenue grew by 26.0 percent YoY to Rs 5,093 million. International subscription revenue was Rs 989 million, ZEEL said.

Commenting on the results, ZEEL Managing Director & CEO Punit Goenka said, "Our broadcast business continues to grow at an impressive pace as evident from the domestic advertising and subscription revenue growth numbers. We continue to consolidate our viewership share which is driving our market leading growth. We believe that our broadcast portfolio has the potential to further increase its market share and the launch of new channel in Kerala will surely help it. The advertising and subscription revenue growth will be aided by the scaling-up of digital business and the growth outlook for both remains strong. This robust performance also gives us room to increase our investments in digital, if required."