Zee Entertainment Enterprises posted a 40% year-on-year drop in consolidated net profit to Rs 46 crore for the quarter ended September 30, 2026, down from Rs 76.5 crore a year earlier. The decline came even as operating revenue rose 13% to Rs 2,225 crore, led by subscription growth and a boost from the FIFA World Cup 2026. Higher tournament broadcast costs, spending on new initiatives and a weaker ad climate amid the Middle East crisis weighed on earnings.
EBITDA fell 52% to Rs 71 crore, with margins narrowing to 3.2% from 7.4%. Total expenditure climbed 18% to Rs 2,154 crore, while operating expenses rose 14% to Rs 1,225 crore. Advertising and promotion spend jumped 55% to Rs 571 crore, driven by FIFA programming and new bets such as Bullet and Music.
Advertising revenue stayed flat at Rs 803 crore, supported by the World Cup, Sa Re Ga Ma Pa and fresh launches, with the festive season expected to lift it. Subscription revenue grew 30% to Rs 1,332 crore. ZEE5 remained the fastest-growing arm, with revenue doubling to Rs 626 crore, and the digital business turned EBITDA-positive at Rs 42 crore versus a Rs 31 crore loss last year.
Linear TV hit a 20% network share in BARC data, its highest in seven years. The World Cup reached over 400 million viewers, while Zee Music logged more than 59 billion video views.
