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Zee Entertainment’s Q2 FY25: Navigating challenges, eyeing future growth
Mumbai: When life gets tough, we often turn to movies, music, or binge-watching our favourite shows for comfort. Behind the scenes, it’s a robust balance sheet that keeps the entertainment industry going. For Zee Entertainment Enterprises Limited (Zeel), a pioneer in India’s satellite television space, the latest financial results for Q2 FY25, announced on 18 October 2024, reflect the company’s determined efforts to navigate a challenging economic landscape while driving growth and profitability.
The company reported a profit after tax of Rs 2,095 million, a 61 per cent increase from the same period last year, underscoring its successful cost-reduction strategies. Improved operational efficiencies helped Zee achieve an EBITDA margin of 16 per cent, up from 13.6 per cent in Q2 FY24, even as the broader macroeconomic conditions remained difficult.
Zee’s Q2 FY25 revenue stood at Rs 20,007 million, a decline of 18 per cent YoY, primarily due to a decrease in advertising revenue. The advertising segment experienced a 9 per cent drop YoY, affected by a muted spending environment. This softness in the market reflected the broader industry’s struggle to regain momentum. In contrast, subscription revenue showed resilience, increasing by 8 per cent YoY as the company capitalised on digital content demand and favourable regulatory changes following the NTO 3.0 implementation.
Zee’s network viewership share increased by 100 basis points over the previous quarter, reaching 17.4 per cent, driven by content enhancements across popular channels like Zee TV, Zee Marathi, and Zee Tamil. “We have strengthened our competitive position with a 60 bps network viewership share gain over the past two quarters and are well-positioned to capitalise on the ad spend recovery,” said MD & CEO, Punit Goenka,.
The company’s digital arm, Zee5, continued its positive trajectory, posting a 6 per cent QoQ revenue increase to Rs 2,363 million. Efforts to streamline the cost structure resulted in a reduction of EBITDA losses by Rs 189 million QoQ. Zee’s focus on balancing growth with long-term financial sustainability appears to be bearing fruit, especially in the face of a challenging macroeconomic environment.
Zee’s financial position remained robust, with cash and cash equivalents rising to Rs 17.8 billion as of September 2024, aided by proceeds from the first tranche of foreign currency convertible bonds (FCCBs). Additionally, the company continued its disciplined approach to managing content inventory, which declined by Rs 4.1 billion during H1 FY25 due to strategic content acquisitions and movie releases.
The reduction in operating costs, primarily in programming and technology, contributed significantly to improving the bottom line. As Goenka highlighted, “Our prudent cost discipline and focused execution enabled us to clock a 630 bps improvement in EBITDA margins despite a challenging macro environment.”
Despite Zee’s strong performance on the profitability front, the ongoing struggle with ad revenue remains a concern. The company acknowledges the need for a sustained recovery in advertising spending, especially with the festive season approaching. While ad revenue showed some signs of improvement towards the end of the quarter, broader market recovery will be crucial for sustaining growth.
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Swiggy sees record orders during India vs New Zealand T20 final
Chicken biryani tops match-day menu as fans order 7,500 times per minute at peak.
MUMBAI: India’s T20 final didn’t just break stumps, it broke Swiggy’s delivery records, proving cricket fans celebrate victories with plates, not just flags. Swiggy, India’s leading on-demand convenience platform, reported a sharp spike in food orders during the ICC Men’s T20 World Cup final between India and New Zealand. On 8 March 2026, overall orders rose 23.2 per cent year-on-year compared with the same date in 2025, driven by fans turning living rooms into mini stadiums complete with match-day feasts.
Key highlights from the evening:
- Orders during peak match hours (7–10 pm) were 2.1 times higher than pre-match levels.
- The highest order rate hit 7,500 orders per minute at 19:45.
- Chicken biryani reigned supreme as the most-ordered dish, followed by masala dosa, chicken fried rice, garlic breadsticks and paneer butter masala.
While metros such as Bengaluru, Mumbai and Hyderabad led volumes, the cricketing fever spread nationwide. Among emerging cities, Thiruvananthapuram, Surat and Rajkot recorded the strongest order growth. Smaller markets including Shillong, Agartala and Port Blair also showed significant appetite, underlining the expanding footprint of quick-commerce food delivery across India.
The surge reflects a growing trend of pairing major sporting events with doorstep delivery, turning big matches into shared, convenient celebrations. In a night where every boundary mattered, Swiggy proved the real MVP might just be the delivery partner who kept the snacks and the vibes flowing without missing a single wicket.
