ZEE ENTERTAINMENT Announces Quarterly Results (2QFY19); Net Profit Down 34.7%

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ZEE ENTERTAINMENT Announces Quarterly Results (2QFY19); Net Profit Down 34.7%
Fri, 12 Oct

ZEE ENTERTAINMENT has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m15,82117,72019,75911.5%24.9%
Other incomeRs m2,03149858918.5%-71.0%
TurnoverRs m17,85218,21820,34811.7%14.0%
ExpensesRs m11,05712,27713,2227.7%19.6%
Gross profitRs m6,1225,4616,53719.7%6.8%
DepreciationRs m4115765882.1%43.2%
InterestRs m353553.0%1846.4%
Profit before taxRs m7,7405,3296,48321.7%-16.2%
TaxRs m1,8322,0712,62426.7%43.3%
Profit after taxRs m5,9083,2593,85918.4%-34.7%
Gross profit margin%38.730.833.1
Effective tax rate%23.738.940.5
Net profit margin%33.117.919.0
* 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 grew 24.9% on a year-on-year (YoY) basis. The expenses were up by 19.6% YoY during the same period.
  • The company's operating profit increased by 6.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.1% in 2QFY19 as against 38.7% in 2QFY18.
  • Depreciation charges and finance costs increased by 43.2% YoY and 1846.4% YoY, respectively.
  • Other income declined by 71.0% YoY during the quarter.
  • Net profit for the quarter declined by 34.7% YoY. Net profit margins during the quarter declined from 33.1% in 2QFY18 to 19.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.7% QoQ during the same period.
  • The company's operating profit increased by 19.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.1% in 2QFY19 as against 30.8% in 1QFY18.
  • Net profit for the quarter increased by 18.4% QoQ, while net profit margins increased from 17.9% in 1QFY18 to 19.0% in 2QFY19.

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

ZEE ENTERTAINMENT Share Price Performance

Over the last one year, ZEE ENTERTAINMENT share price has moved up from Rs 517.4 to Rs 474.9, registering a Loss of Rs 42.5 or around 8.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,091.2 (down 1.0%). Over the last one year it has moved up from 5,809.4 to 7,091.2, a gain of 1,282 points (up 22.1%).

Overall, the S&P BSE SENSEX is up 8.8% over the year.

Current Valuations

At the current price of Rs 474.9, the price to earnings (P/E) ratio of ZEE ENTERTAINMENT stands at 36.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.0 times.

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