Zee Leisure Enterprises Ltd on Friday reported a 48.94 per cent decline in consolidated internet revenue at Rs 106.60 crore for the June quarter 2022-23 attributable to difficult macroeconomic circumstances. Zee Leisure Enterprises Restricted (ZEEL) stated in a BSE submitting that the corporate had reported a internet revenue of Rs 208.78 crore within the April-June interval a 12 months in the past.
Complete earnings in the course of the quarter underneath overview stood at Rs 1,879.53 crore, as towards Rs 1,808.56 crore within the year-ago interval.
“The working efficiency of Q1 FY23 was impacted attributable to Zee Anmol FTA withdrawal and difficult macroeconomic circumstances,” ZEEL stated in its earnings replace.
The whole expenditure stood at Rs 1,695.88 crore as towards Rs 1,501.62 crore.
The income from promoting in April-June was Rs 976.28 crore. It was Rs 926.61 crore within the year-ago interval.
ZEEL stated, “Promoting income development for the quarter impacted by FTA withdrawal (Zee Anmol) and decrease advert spend by manufacturers attributable to weak macroeconomic circumstances.”
Its subscription income stood at Rs 771.72 crore as towards Rs 813.05 crore in Q1FY22.
“Subscription income declined by 5.1 per cent year-on-year and QoQ by 10 per cent,” ZEEL stated.
As well as, Q1 can be affected by a few of its B2B offers and renewal timings.
Income from ‘Different Gross sales and Companies’ stood at Rs 97.74 crore. A 12 months in the past it was Rs 35.32 crore.
On Friday, ZEEL shares closed at Rs 241.80 on the BSE, down 2.50 per cent from the earlier shut.