Digital and broadcasting media company Zee Entertainment reported a profit of Rs 13 crore in the March quarter of FY24, after reporting a loss of Rs 196 crore in the year-ago period.
However, sequentially the March quarter of FY24 remained muted. The company has reported a profit of Rs 58.5 crore in Q3 FY24.
It reported total income of Rs 2,185.29 crore, up from Rs 2,126.35 crore during the same period a year ago, the company said on May 17.
The broadcaster's advertising revenue stood at Rs 1,110.2 crore versus Rs 1,005.8 crore in Q4 FY23.
"Domestic advertising revenue for the quarter grew by 10.6 percent year-on-year (YoY) driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients," the company said.
Analysts had expected Zee to report a 3 percent decline in advertising revenue in Q4.
In FY24, Zee's ad revenue was marginally down to Rs 4057.7 crore from Rs 4057.9 crore.
At 15:59, the stock was trading at Rs 134.95 on National Stock Exchange (NSE), up 1.4 percent from the previous close.
For the full year of FY24, the broadcaster's profit stood at Rs 141.43 crore crore versus Rs 47.79 crore in FY23.
Its network share went up in the last fiscal year to 17.1 percent from 16.8 percent in FY23.
Revenue from its streaming platform Zee5 improved marginally in Q4 FY24 to Rs 237.2 crore from Rs 220 crore during the same period a year ago. In FY24, the over the top (OTT) platform's revenue increased to Rs 919.5 crore from Rs 741.1 crore in FY23.
The streaming platform had released 16 shows and movies released in Q4.
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