/Entertainment ZEE Q4 results: Entertainment company reports net loss of Rs 765.8 crore, revenue down 3.4%
Entertainment ZEE Q4 results: Entertainment company reports net loss of Rs 765.8 crore, revenue down 3.4%

Entertainment ZEE Q4 results: Entertainment company reports net loss of Rs 765.8 crore, revenue down 3.4%

Entertainment

Synopsis

Entertainment For the stout fiscal, ZEE’s receive income dropped 66.5% to Rs 524.6 crore, income became once up 2.5%

Entertainment http://economictimes.indiatimes.com/Companies
The topple in marketing income became once largely offset by a 41% soar in domestic subscription revenues.

MUMBAI: Zee Entertainment Enterprises (ZEE) has posted a receive loss of Rs 765.8 crore for the fourth quarter of the monetary year ended March 31, 2020. Here is compared to a receive income of Rs 292.5 crore in the corresponding quarter of the old fiscal.

ZEE’s working income for the quarter became once down 3.4% to Rs 1,951.1 crore, compared with Rs 2,019.3 crore in the year-in the past length, as miserable macroeconomic atmosphere and the onset of Covid-19 outbreak resulted in a topple in marketing revenues.

The topple in marketing income became once largely offset by a 41% soar in domestic subscription revenues, driven by implementation of the unusual tariff declare final year and bid in ZEE’s subscription revenues, the firm acknowledged.

ZEE posted an working loss (EBITDA) of Rs 283.9 crore, compared to a income of Rs 568.3 crore in Q4FY19. With the exception of 1-offs for the quarter, ZEE managed to submit working income of Rs 319.3 crore.

Full expenditure for the quarter jumped 54% to Rs 2,234.9 crore, mainly because of an 18.3% amplify in the programming imprint (Rs 1,044.8 crore) and 40% amplify in other funds (Rs 242.5 crore). The firm lowered its non-public imprint from Rs 201.5 crore in Q42019 to Rs 160.4 crore for the length of the quarter below analysis.

The firm has additionally included in administrative imprint an onetime provision of Rs 343.3 crore for balances connected to ad, subscription and other property where restoration has turn out to be doubtful on legend of Covid-19 led uncertainty, ZEE acknowledged.

For the stout fiscal, ZEE’s receive income dropped by 66.5% to Rs 524.6 crore, from Rs 1,567.3 crore in the old fiscal, while EBITDA became once down 36.2% to Rs 1,364.5 crore.

Full income for the year became once at Rs 8,129.9 crore, up 2.5% compared to FY19.

Deloitte Haskins & Sells has qualified a connected social gathering transaction in the firm’s monetary statements for the year ended March 31st.

The qualified notion is referring to the letter of comfort (LOC) issued by ZEE in Could well also 2016 to Yes Monetary institution in connection with a borrowing by Living Entertainment, a connected social gathering. While the topic is sub-judice, the ZEE administration has no longer thought to be because the LOC as a monetary guarantee and has no longer accounted for any liability in admire of the LOC, as LEL has defaulted on the funds.

ZEE has disclosed that the board meeting commenced at 2.30 pm and concluded at 4.30 pm on Friday, however the tip consequence became once printed on the bources at 12: 30 am.

ZEE stock had closed at Rs 151.65 apiece, down 4.6% on Friday on BSE.

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6 Feedback on this Memoir

Entertainment http://economictimes.indiatimes.com/

Chandresh3 hours in the past

One part is run .if there may perhaps be any doubt on administration than the bulk shareholders that is Dii and Fii will change the administration instantly.Furthermore gift that this firm requires to be handed over to about a dazzling administration so that firm grows .What I demonstrate that there may perhaps be now not any alarming debt and promoters fetch stake at weep 10 percent will be weep 5 percent so what of that few is in pledge so that will be equipped .There became once some promoting from 180 stages maybe some with knowledge and now at 152 so the sellers in future will get money on falls .Nonetheless it completely is already down because of these concerns .additionally some matters are subjudice and already in originate so that too must be in imprint .fully part is merchants are now monumental institutional and they know the contrivance to tackle such points as they fetch got put Public money lately too .

Entertainment http://economictimes.indiatimes.com/

Dishank Jharwal5 hours in the past

@pure, are you seriously that unimaginative or that you simply can maybe be a slave of pappu?

Entertainment http://economictimes.indiatimes.com/

PURE SOULS7 hours in the past

ground actuality is this…no longer fully zee but reliance..hdfc.kotak all are in monumental loss in actual fact but with the wait on of modi and sebi they are manuplating the outcomes