ZEE ENTERTAINMENT Announces Quarterly Results (3QFY20); Net Profit Down 38.0%

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ZEE ENTERTAINMENT Announces Quarterly Results (3QFY20); Net Profit Down 38.0%
Fri, 24 Jan

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

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m21,66821,22020,487-3.5%-5.5%
Other incomeRs m8606817104.2%-17.5%
TurnoverRs m22,52821,90121,196-3.2%-5.9%
ExpensesRs m13,74814,37815,2305.9%10.8%
Gross profitRs m7,9195,1365,2572.4%-33.6%
DepreciationRs m61558365612.4%6.7%
InterestRs m5518020011.5%263.0%
Profit before taxRs m8,1095,0545,1101.1%-37.0%
TaxRs m2,4849211,62276.2%-34.7%
Profit after taxRs m5,6254,1333,488-15.6%-38.0%
Gross profit margin%36.524.225.7
Effective tax rate%30.618.231.7
Net profit margin%25.018.916.5
* 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 5.5% on a year-on-year (YoY) basis. The expenses were up by 10.8% YoY during the same period.
  • The company's operating profit declined by 33.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.7% in 3QFY20 as against 36.5% in 3QFY19.
  • Depreciation charges increased by 6.7% and finance costs increased by 263.0% YoY, respectively.
  • Other income declined by 17.5% YoY during the quarter.
  • Net profit for the quarter declined by 38.0% YoY. Net profit margins during the quarter declined from 25.0% in 3QFY19 to 16.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.9% QoQ during the same period.
  • The company's operating profit increased by 2.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.7% in 3QFY20 as against 24.2% in 2QFY19.
  • Net profit for the quarter declined by 15.6% QoQ, while net profit margins declined from 18.9% in 2QFY19 to 16.5% in 3QFY20.

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 434.1 to Rs 284.9, registering a Loss of Rs 149.3 or around 34.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 8,092.0 (down 0.3%). Over the last one year it has moved up from 7,314.4 to 8,092.0, a gain of 778 points (up 10.6%).

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 284.9, the price to earnings (P/E) ratio of ZEE ENTERTAINMENT stands at 17.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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