ZEE ENTERTAINMENT Announces Quarterly Results (1QFY21); Net Profit Down 94.5%

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ZEE ENTERTAINMENT Announces Quarterly Results (1QFY21); Net Profit Down 94.5%
Tue, 1 Sep

ZEE ENTERTAINMENT has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m20,08119,51113,120-32.8%-34.7%
Other incomeRs m1,039407264-35.1%-74.6%
TurnoverRs m21,12019,91713,384-32.8%-36.6%
ExpensesRs m12,80525,13612,044-52.1%-5.9%
Gross profitRs m7,276-6,7621,076-85.2%
DepreciationRs m690778719-7.6%4.1%
InterestRs m20586445-94.8%-78.0%
Profit before taxRs m7,420-7,997576-92.2%
TaxRs m2,146-372284-86.8%
Profit after taxRs m5,275-7,625292-94.5%
Gross profit margin%36.2-34.78.2
Effective tax rate%28.94.749.2
Net profit margin%25.0-38.32.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 34.7% on a year-on-year (YoY) basis. The expenses were down by 5.9% YoY during the same period.
  • The company's operating profit declined by 85.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.2% in 1QFY21 as against 36.2% in 1QFY20.
  • Depreciation charges increased by 4.1% and finance costs declined by 78.0% YoY, respectively.
  • Other income declined by 74.6% YoY during the quarter.
  • Net profit for the quarter declined by 94.5% YoY. Net profit margins during the quarter declined from 25.0% in 1QFY20 to 2.2% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 52.1% QoQ during the same period.
  • The company's operating profit declined by 115.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.2% in 1QFY21 as against 34.7% in 4QFY20.
  • Net profit for the quarter increased by 103.8% QoQ, while net profit margins increased from -38.3% in 4QFY20 to 2.2% in 1QFY21.

To see how ZEE ENTERTAINMENT has performed over the last eight quarters,please visit here.

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ZEE ENTERTAINMENT Share Price Performance

Over the last one year,ZEE ENTERTAINMENT share price has moved down from Rs 373.5 to Rs 200.2, registering a Loss of Rs 173.3 or around 46.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 8,726.0 (up 0.3%). Over the last one year it has moved up from 7,853.1 to 8,726.0, a gain of 873 points (up 11.1%).

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 200.2, the price to earnings (P/E) ratio of ZEE ENTERTAINMENT stands at 666.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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