ZEE ENTERTAINMENT Announces Quarterly Results (2QFY20); Net Profit Up 7.1%

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ZEE ENTERTAINMENT Announces Quarterly Results (2QFY20); Net Profit Up 7.1%
Fri, 25 Oct

ZEE ENTERTAINMENT has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m19,75920,08121,2205.7%7.4%
Other incomeRs m5891,039681-34.4%15.6%
TurnoverRs m20,34821,12021,9013.7%7.6%
ExpensesRs m13,22212,80514,37812.3%8.7%
Gross profitRs m6,5377,2765,136-29.4%-21.4%
DepreciationRs m588690583-15.5%-0.9%
InterestRs m55205180-12.4%229.7%
Profit before taxRs m6,4837,4205,054-31.9%-22.1%
TaxRs m2,6242,146921-57.1%-64.9%
Profit after taxRs m3,8595,2754,133-21.6%7.1%
Gross profit margin%33.136.224.2
Effective tax rate%40.528.918.2
Net profit margin%19.025.018.9
* 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 7.4% on a year-on-year (YoY) basis. The expenses were up by 8.7% YoY during the same period.
  • The company's operating profit declined by 21.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.2% in 2QFY20 as against 33.1% in 2QFY19.
  • Depreciation charges declined by 0.9% and finance costs increased by 229.7% YoY, respectively.
  • Other income increased by 15.6% YoY during the quarter.
  • Net profit for the quarter increased by 7.1% YoY. Net profit margins during the quarter declined from 19.0% in 2QFY19 to 18.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.3% QoQ during the same period.
  • The company's operating profit declined by 29.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.2% in 2QFY20 as against 36.2% in 1QFY19.
  • Net profit for the quarter declined by 21.6% QoQ, while net profit margins declined from 25.0% in 1QFY19 to 18.9% in 2QFY20.

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 431.4 to Rs 238.5, registering a Loss of Rs 192.9 or around 44.7%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,098.6 (up 0.2%). Over the last one year it has moved up from 6,876.4 to 7,098.6, a gain of 222 points (up 3.2%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 238.5, the price to earnings (P/E) ratio of ZEE ENTERTAINMENT stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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