ICICI Direct: Zee Entertainment’s Focus On Governance, Disclosures A Positive Change

"BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Zee Entertainment Enterprises Ltd.’s Q1 FY21 was all about management’s effort to address investors’ concerns on strategy, related party transaction, balance sheet.Results, as expected, were weak with advertisement revenues fall of approximately 65% YoY (domestic ad decline of 66.1%) given the lack of fresh content.Subscription growth of 5% YoY, primarily led by Zee5, remained a solace.Higher-than-expected operational costs (purchase of licensed content, continued amortisation cost of movies, digital shows) and employee costs led to Ebitda at Rs 219.9 crore, down 66.7% YoY.Ebitda margin was at 16.8%, down 1,609 basis points YoY. Reported profit after tax was at Rs 30.4 crore, down 94.3% YoY..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

ICICI Direct: Zee Entertainment’s Focus On Governance, Disclosures A Positive Change