Zee Entertainment Enterprises is mainly in the following businesses: Broadcasting of Satellite Television Channels, Space Selling agent for other satellite television channels, and Sale of Media Content i.e. programs / film rights / feeds /music rights.
Q3 FY26 Earnings Results
Zee Entertainment reported 15% YoY revenue growth in Q3 FY26 driven by subscription and content sales, though ad softness and higher costs pressured margins and profitability.
- Revenue from Operations: ₹2,280.1 crore, up 15.2% YoY from ₹1,969 crore; up 15.8% QoQ from ₹1,969.2 crore.
- Advertising Revenue: ₹851.5 crore, down 10% YoY.
- Subscription Revenue: ₹1,050.2 crore, up 7% YoY.
- Other Sales/Services: ₹603 crore, up 45% YoY.
- Total Expenditure: ₹2,040 crore, up 23% YoY.
- EBITDA: ₹241 crore, down 24% YoY from ₹317.6 crore; margin 10.5% (down 560 bps YoY).
- Profit Before Tax (PBT): ₹201.7 crore, up 2% YoY from ₹197.8 crore.
- Profit After Tax (PAT): ₹155.3 crore, down 5.1% YoY from ₹163.6 crore; up 103% QoQ from ₹76.5 crore.
- 9M FY26: Revenue ₹6,074 crore (flat YoY); PAT ₹375 crore (down 23.6% YoY).
Management Commentary & Strategic Decisions – Q3 FY26
Soft FMCG ad spending caused 10% domestic ad decline; hopeful of brand building revival while investing in growth initiatives like KidZ/Bullet.
- ZEE5 Performance: Revenue up 73% YoY to ₹418 crore; 9M revenue ₹1,018.8 crore (up 45% YoY); 39 new shows/movies including 11 originals.
- Outlook: Selective investments in content/digital; positive EBITDA from ZEE5 signals monetisation success.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹1,969.2 crore, down 1.6% YoY from ₹2,000.7 crore; up 7.9% QoQ.
- EBITDA: ₹159 crore (implied), margin 8.1% (down from 16.2% YoY).
- Profit After Tax (PAT): ₹76.5 crore, down 63.5% YoY from ₹209.4 crore; down 46.8% QoQ from ₹143.6 crore.
Management Commentary & Strategic Directions – Q2 FY26
Profit plunge due to soft ad market, higher programming costs and elevated tax rate (33.7% vs 26.9% YoY); revenue growth from digital/subscription offset broadcasting weakness.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.