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India's Zee Entertainment reports sharp rise in Q3 profit, margins on cost cuts

Zee Entertainment Enterprises Ltd reported a significant increase in its third-quarter profit margins, driven by effective cost-cutting measures. The company's consolidated net profit rose to 585 million rupees ($7.03 million) for the quarter ending December 31, up from 24.3 million rupees in the same period the previous year. This improvement was primarily due to a reduction in expenses, with total costs dropping by 5.5% to 17.13 billion rupees. Despite a slight revenue decrease of 3% to 20.46 billion rupees, attributed to lower ad revenues, Zee managed to enhance its EBITDA margin to 15.8% from 10.2% a year earlier. The company also saw a 16.9% increase in subscription revenue, which helped offset the decline in advertising income.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/india-s-zee-entertainment-reports-sharp-rise-in-q3-profit-margins-on-cost-cuts/ar-AA1xIBsI ]