Zee Profit Drops 38 Percent
Zee Entertainment Enterprises reported a 38 percent drop in quarterly profit as costs related to the FIFA World Cup broadcast and other initiatives weighed on margins. Higher expenses offset gains from subscription growth while advertising revenue remained flat.
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Zee Entertainment Enterprises reported a 38% drop in quarterly profit on Friday morning, driven by broadcasting costs tied to the FIFA World Cup. The broadcaster earned 478 million rupees ($5 million) for the July-September period, down from 765 million rupees a year earlier.
The drop reflects broader pressures in India where traditional television networks face shifting advertiser budgets. Total expenses rose 16%, pushing core profit margins down to 3.2% from 7.4% a year ago.
