Zee Entertainment reported its Q2 results on Friday afternoon ahead of the market close.

What Happened: Zee reported a 61.27% year-on-year increase in net profit to ₹209.50 crore in the quarter that ended on September 30, 2024. However, the company’s revenue was down 17.93% to ₹2000.7 crore. EBITDA fell 4% to ₹321 crore while EBITDA margin expanded by 2.4% to 16%.

Advertising revenue fell 8% to ₹901.7 crore in Q2 from ₹979.2 crore in the previous year, while subscription revenue went up 9% YoY to ₹969.9 crore.

See Also: The Indian Premium: Global Giants Get Valuation Boost In Indian Share Market

The company’s weekly reach declined to 75.5 crore in the quarter from 76.4 crore in the previous year. Weekly impressions also fell to 2860 crore from 2940 crore in the previous year.

The company also reappointed Punit Goenka as managing director and chief executive director of the company for five years from January 1, 2025, to December 31, 2029.

Zee had a turbulent quarter with Star India filing an arbitration case for damages amounting to $940 million (around ₹7,802 crore) in September. In August, the company settled its merger dispute with Sony Pictures Networks India.

Price Action: Shares of Zee Entertainment rose 5.52% to ₹132.70 on Friday.

Read Next: Hindustan Zinc Reports 35% Jump In Q2 Profit At ₹2,327 Cr, Shares Jump