Zee Entertainment’s profit surges in 1Q

Zee Entertainment Enterprises Ltd. reported a bigger-than-expected quarterly profit on the back of growth in domestic broadcast and digital businesses. Net profit jumped 62.5 percent year-on-year to `530 crore in the quarter ended June, according to its exchange filing.

“We delivered another quarter of strong performance despite the operational challenges faced by the industry due to the implementation of Telecom Regulatory Authority of India’s tariff order,” said Punit Goenka, managing director and chief executive officer, Zee.

The company generated revenue of `2008 crore, a 13.3-percent increase over a year ago. Operating profit rose 33.6 percent to `727 crore, while operating margin expanded 560 basis points to 36.2 percent. The company’s advertising revenue for the quarter stood at `1187 crore, a growth of 3.6 percent. Its subscription revenue rose 36 percent to `709 crore.