Zee Entertainment’s consolidated net profit rises 187% to Rs 270.2 crore, misses analyst estimates

Zee Entertainment Enterprises (ZEEL) on Thursday reported a 187% rise in its consolidated net profit at Rs 270.2 crore, but this was below analyst estimates that had forecast a quarterly net profit of Rs 286.5 crore. In comparison, the media firm had posted a net profit of Rs 94 crore for the same quarter of last financial year, it said in a stock exchange announcement.

During the quarter under review, the company’s consolidated operating revenue grew by 14.9% to Rs 1,978.8 crore (from Rs 1,722.7 crore), while Ebitda rose 31.4% to Rs 412.1 crore (Rs 313.6 crore).

ZEEL’s domestic ad revenues grew by 18.9% on a quarter-on-quarter basis, and by 20.1% on a year-on-year basis.“The second quarter has been one of recovery and revival for us and the industry at large.