Zee Entertainment Posts Rs 266.08 Crore Net Profit In Q2. Brokerage Houses Give ‘Buy’ Call

The company had reported a net profit of Rs 93.41 crore in the July-September quarter a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a regulatory filing.

Its total income during the quarter under review was Rs 2,010.47 crore. It was Rs 1,760.61 crore in the corresponding quarter.

According to the company, its results for the quarter ended September 30, are not comparable as restrictions caused by the COVID-19 had an impact on the business activities.

"The impact on the results for the quarter and year ended 30 September 2021 is primarily due to restrictions caused by the COVID-19 on the business activities. Hence, the results for the year ended 30 September 2021 are not strictly comparable with the results of the earlier periods presented," said ZEEL.

Its revenue from advertisement was at Rs 1,089.29 crore in the July-September quarter. It was Rs 902.79 crore in the corresponding quarter.

While its subscription revenue was at Rs 788.51 crore. It was at Rs 800.29 crore in Q2/FY 2020-21.

Revenue from ‘Other sales and services’ was at Rs 100.99 crore. It was Rs 19.62 crore a year ago. Its total expenses were at Rs 1,637.47 during the quarter.

Check what brokerage houses have to say, as per The Economic Times.

Emaky Global: The brokerage house has given a buy call with a target price of Rs 415. The time given by analyst is one year when Zee Entertainment Enterprises Ltd. price can reach defined target.

Yes Securities: The investment company has given a buy call on Zee Entertainment Enterprises Ltd. with a target price of Rs 370. The time given by the analyst is Intra Day when Zee Entertainment Enterprises Ltd. price can reach a defined target.

(With PTI Inputs)