Q3 2026 Zee Entertainment Enterprises Ltd Earnings Call Transcript

Jan 22, 2026 / 11:30 AM GMT

Release Date Price: ₹85.1 (+3.86%)

Transcript

Key Points

Positve

Zee Entertainment Enterprises Ltd (BOM:505537) reported a 73% year-on-year increase in digital revenue, reaching INR 4,180 million, marking the highest quarterly revenue in the digital segment.
The digital business achieved a positive EBITDA of INR 564 million, compared to a loss of INR 1,362 million in the same quarter last year.
Overall subscription revenue grew by 7% year-on-year, driven by digital business growth and successful contract renewals in the broadcast segment.
The company maintained its position as India's strong number two TV entertainment network, with a network share increase to 17.5%.
Zee's music business garnered over 51 billion total video views with more than 175 million subscribers on YouTube, maintaining healthy profitability.

Negative

Advertising revenues declined by 9% year-on-year, largely due to softness in FMCG spending, despite a 6% quarter-on-quarter increase.
The overall operating cost increased by 12% quarter-on-quarter, primarily due to higher programming costs and acquisitions.
The company is yet to see the full benefits of GST cuts and sustained pickup in FMCG advertising spend.
Depreciation and amortization amounts have been declining, attributed to lower capitalization rates in recent years.
The arbitration proceedings with Star have been adjourned, delaying the expected verdict.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ZEE.NS - Zee Entertainment Enterprises Ltd
Q3 2026 Zee Entertainment Enterprises Ltd Earnings Call
Jan 22, 2026 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Q3 F 526 earnings call of Z Entertainment Enterprises Limited.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this call is being recorded.

I now hand the conference over to Mr. Ankit Arora, head of investor relations, the Entertainment Enterprises Limited.

Thank you and over to you, sir.

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