Zee Entertainment’s September quarter revenues were in-line with estimates, but advertisement revenues declined 26 percent.
Speaking to CNBC-TV18, Rohit Gupta, CFO of Zee Entertainment said that they are now seeing a strong rebound in ad revenue across all sectors. “With ad revenues coming back, we are even seeing improved profitability,” he added.
Gupta said that Zee’s market share has increased to 19 percent which is higher than pre-COVID levels.
“During Q2, operational performance has seen an all-round rebound. We are seeing production of original content and that has started to come in full swing. It has also reversed the viewership loss that we had in the entertainment network to news and movies,” he said.
He further added that even on the digital platform, Zee5 and movies and music business were seeing good growth.
On Siti, Gupta said that they do not expect any more write-offs towards it. He further added that Dish TV's outstanding currently is at Rs 460 crore.