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. The subscription revenue, however, grew 15.4 per cent to Rs 713.7 crore in Q3FY20, riding primarily on last February’s new tariff order (NTO)-induced changes in subscription patterns. Zee’s India subscription revenue grew 21.7 per cent to Rs 631 crore.
Source: Business Standard
