Zee Entertainment Enterprises (NSE: ZEEL) reported its second-quarter 2022 earnings results today after the market hours.
The company’s revenue rose to 15% to ₹1,979 crores in Q2FY22 compared to ₹1,723 crores in Q2FY21. ZEE reported a 187% rise in consolidated net profit at ₹270 crores for the quarter ending September 30, 2021.
Domestic Ad revenues grew both YoY and QoQ by 20.1% & 18.9% respectively, While revenue grew but Q2 continued to be partially impacted by Covid in the first half of the quarter.
Zee’s subscription revenues in Q2FY22 were down marginally by 1.5% YoY. The delay in NTO 2.0 implementation continued to impact pricing, whereas the new implementation timeline for NTO 2.0 implementation is April 1, 2022.