ZEE ENTERTAINMENT Announces Quarterly Results (3QFY21); Net Profit Up 14.2%

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ZEE ENTERTAINMENT Announces Quarterly Results (3QFY21); Net Profit Up 14.2%
Fri, 5 Feb

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

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m20,48717,22727,29458.4%33.2%
Other incomeRs m710379276-27.3%-61.1%
TurnoverRs m21,19617,60627,56956.6%30.1%
ExpensesRs m15,23014,29820,97646.7%37.7%
Gross profitRs m5,2571,9586,318222.6%20.2%
DepreciationRs m6566516520.1%-0.5%
InterestRs m200132161.8%-89.4%
Profit before taxRs m5,1101,6735,920253.9%15.8%
TaxRs m1,6227401,937161.9%19.4%
Profit after taxRs m3,4889333,983326.7%14.2%
Gross profit margin%25.711.423.1
Effective tax rate%31.744.232.7
Net profit margin%16.55.314.4
* 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 33.2% on a year-on-year (YoY) basis. The expenses were up by 37.7% YoY during the same period.
  • The company's operating profit increased by 20.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.1% in 3QFY21 as against 25.7% in 3QFY20.
  • Depreciation charges declined by 0.5% and finance costs declined by 89.4% YoY, respectively.
  • Other income declined by 61.1% YoY during the quarter.
  • Net profit for the quarter increased by 14.2% YoY. Net profit margins during the quarter declined from 16.5% in 3QFY20 to 14.4% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 58.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 46.7% QoQ during the same period.
  • The company's operating profit increased by 222.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.1% in 3QFY21 as against 11.4% in 2QFY20.
  • Net profit for the quarter increased by 326.7% QoQ, while net profit margins increased from 5.3% in 2QFY20 to 14.4% in 3QFY21.

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 226.7 to Rs 216.3, registering a Loss of Rs 10.4 or around 4.6%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 11,673.5 (down 1.4%). Over the last one year it has moved up from 8,070.7 to 11,673.5, a gain of 3,603 points (up 44.6%).

Overall, the S&P BSE SENSEX is up 27.4% over the year.

Current Valuations

At the current price of Rs 216.3, the price to book value (P/BV) ratio of ZEE ENTERTAINMENT stands at 2.2 times.

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