Zee Entertainment shares rise despite margin pressure in Q3

Shares of Zee Entertainment Enterprises Ltd. were trading more than 4% higher on Thursday, January 22, after the company reported its December quarter (Q3) earnings.

Net profit for the quarter declined 5.1% year-on-year to ₹155.3 crore from ₹163.6 crore. Revenue rose 15.2% to ₹2,280 crore, compared with ₹1,979 crore in the year-ago period.

Operating performance, however, remained under pressure, with EBITDA falling 19% to ₹259.3 crore from ₹321 crore. As a result, EBITDA margin contracted sharply to 11.4% from 16.2% a year earlier.