ZEE Entertainment Enterprises Limited has benefited from an increase in ZEE5 subscription numbers during the first quarter of the current financial year.
However, the company on Tuesday posted a consolidated net profit of Rs. 29 crore for the quarter ended June, down 95 per cent from Rs 530 crore in Q1 FY20.
In regulatory filings, ZEE said its total income in the April to June quarter dipped by 36 per cent to Rs 1,338 crore from Rs. 2,112 crore in the same period a year ago. Advertisement revenues dropped by 64 per cent to Rs. 421 crore from Rs 1,187 crore.
ZEE said there has been a strong bounce back in viewership shares across the network post COVID-19 lockdown and the broadcaster enjoys 19.2 per cent all-India entertainment share over the last four weeks.
Its domestic subscription revenues grew by 6.2 per cent on a higher base, primarily led by Zee5 subscription revenue.
Inputs from ZEE5