Zee Entertainment Posts Quarterly Loss as Ad Spending Falls
Zee Entertainment reported a 1.02 billion rupee loss as the Middle East crisis hit ad revenue. Higher operational costs and content charges pressured margins.
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Zee Entertainment Enterprises reported a 1.02 billion rupee ($10.57 million) net loss for the March quarter as advertising revenue fell 3.5%. The broadcaster posted a 1.88 billion rupee profit during the same period a year ago. Geopolitical instability in the Middle East is directly impacting advertising budgets of major Indian consumer brands.
