ZEE ENTERTAINMENT Announces Quarterly Results (4QFY19); Net Profit Up 27.0%

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ZEE ENTERTAINMENT Announces Quarterly Results (4QFY19); Net Profit Up 27.0%
Wed, 29 May

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

ZEE ENTERTAINMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m17,25321,66820,193-6.8%17.0%
Other incomeRs m881860568-33.9%-35.6%
TurnoverRs m18,13422,52820,761-7.8%14.5%
ExpensesRs m11,16013,74814,4174.9%29.2%
Gross profitRs m6,0947,9195,558-29.8%-8.8%
DepreciationRs m594615568-7.6%-4.5%
InterestRs m1,274551,1421968.3%-10.4%
Profit before taxRs m5,1068,1094,417-45.5%-13.5%
TaxRs m2,8052,4841,494-39.9%-46.8%
Profit after taxRs m2,3015,6252,923-48.0%27.0%
Gross profit margin%35.336.527.5
Effective tax rate%54.930.633.8
Net profit margin%12.725.014.1
* 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 17.0% on a year-on-year (YoY) basis. The expenses were up by 29.2% YoY during the same period.
  • The company's operating profit declined by 8.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.5% in 4QFY19 as against 35.3% in 4QFY18.
  • Depreciation charges declined by 4.5% and finance costs declined by 10.4% YoY, respectively.
  • Other income declined by 35.6% YoY during the quarter.
  • Net profit for the quarter increased by 27.0% YoY. Net profit margins during the quarter increased from 12.7% in 4QFY18 to 14.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.9% QoQ during the same period.
  • The company's operating profit declined by 29.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.5% in 4QFY19 as against 36.5% in 3QFY18.
  • Net profit for the quarter declined by 48.0% QoQ, while net profit margins declined from 25.0% in 3QFY18 to 14.1% in 4QFY19.

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 556.3 to Rs 374.5, registering a Loss of Rs 181.9 or around 32.7%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,652.9 (up 0.9%). Over the last one year it has moved up from 6,935.9 to 7,652.9, a gain of 717 points (up 10.3%).

Overall, the S&P BSE SENSEX is up 12.9% over the year.

Current Valuations

At the current price of Rs 374.5, the price to earnings (P/E) ratio of ZEE ENTERTAINMENT stands at 23.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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