Zee Entertainment Enterprise Ltd (ZEEL) recorded a 5% decline in consolidated revenue after tax (PAT) at ₹130 crore within the September quarter, in comparison with ₹137 crore it had reported a 12 months in the past in the identical interval. The media firm introduced its earnings for the July–September quarter on Thursday.

ZEEL income, nonetheless, surged 20.4% to ₹2,437.8 crore within the second quarter of the present fiscal, in comparison with ₹2,024 crore it had posted a 12 months in the past. A CNBC-TV18 ballot estimated income at ₹2,177 crore. This was led by a “strong performance in digital and healthy viewership gains in linear,” an earnings assertion from ZEEL mentioned.

The firm’s income from commercial fell 3.3% to ₹979 crore within the July-Septemer quarter of FY24, in comparison with ₹1,013 crore in Q2FY23.

“Some early pick up in Ad spending was witnessed led by FMCG during Q2, the overall pace of Ad environment recovery continues to be slow,” ZEEL mentioned, including, “Ad revenue is also impacted by busy cricket season (Asia Cup, ICC World Cup).”

ZEEL subscription income got here in at ₹887.83 crore within the September quarter, 8% larger than the ₹822 crore it had posted in the identical quarter a 12 months in the past. This development was “driven by pick up in linear subscription revenue post-NTO 3.0 & ZEE5”.

Revenue from ‘Other gross sales and Services’ was over two-fold to ₹570.79 crore within the September quarter. This improve was “aided by higher syndication and strong theatrical performance of movies,” ZEEL mentioned.

Shares of Zee Entertainment Enterprise settled 1.15% larger at ₹262.80 apiece on the BSE.