Zee Entertainment Q3 profit before tax slips 37% as ad revenues dip

Zee Entertainment (Zee) posted a 37 per cent year-on-year (YoY) decline in profit before tax (PBT) to Rs 510.8 crore for the third

quarter (Q3) of the current financial year (FY20), as revenue dipped 5.5 per cent to Rs 2,048.7 crore.

The company also issued clarifications on the related-party transactions, which led to three directors resigning from its board during the quarter. Its auditor Deloitte, however, declined to comment on the matter. The advertising revenue for the quarter came in at Rs 1,230.8 crore, down 15.8 per cent YoY; the domestic advertising revenue declined 15.7 per cent. The international ad revenue came in at Rs 73.8 crore.