Zee Entertainment Enterprises Q3 FY25 results (Oct–Dec 2024) and concall

Zee Entertainment reported a mixed Q3 FY25, with advertising revenues impacted by a challenging macro environment and muted FMCG spending, resulting in an 8% YoY decline despite a 4% QoQ increase. However, subscription revenues continued healthy growth, up 8.2% for the nine-month period. The company demonstrated strong cost management, leading to a 10% YoY decline in operating costs and significant EBITDA margin expansion (up 590 bps YoY). PAT from continued operations surged 207% YoY to Rs 1,636 mn, reflecting improved business fundamentals and a streamlined cost base.