New Delhi: The unaudited consolidated financial results of Zee Entertainment Enterprises Limited (ZEEL) (BSE: 505537, NSE: ZEEL.EQ) and its subsidiaries for the quarter ended Sep 30, 2018, was approved by the Board of Directors in its meeting held today.

Also, ZEEL reported consolidated revenue of Rs 19,759 million for the second quarter of fiscal 2019. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was Rs. 6,757 million with an EBITDA margin of 34.2 per cent. PAT for the quarter was Rs 3,867 million.

For the Q2, the total revenue for the quarter was Rs 19,759 million, a growth of 24.9 per cent YoY. The growth was driven by the strong performance of the domestic broadcast business and aided by other businesses. Meanwhile, the advertising revenue for the quarter was Rs 12,106 million, a growth of 22.7 per cent YoY. In the case of domestic advertising, revenue grew by 23.3 per cent YoY to 11, 526 million while in case of international advertising revenue for the quarter was Rs 580 million.

Subscription revenue for the quarter was Rs 6,082 million, a growth of 21.3 per cent YoY. Domestic subscription revenue grew by 26.0 per cent YoY to Rs 5,093 million. International subscription revenue was Rs 989 million. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) for the quarter grew by 37.6 per cent to Rs 6,757 million and EBITDA margin stood at 34.2 per cent.

Soaring new heights, ZEE5 became the #2 digital entertainment platform with 41.3 million Monthly Active Users (MAU) on September 18, 190 per cent growth since April 2018 while it continued to be the #1 television entertainment network with an all-India viewership share of 19.9 per cent.

Zee Studios also released two Hindi movies – Dhadak and Paltan, during the quarter.

ZEEL Chairman Subhash Chandra said, “Media and entertainment industry around the world is going through some seminal changes and India is no different. Digital has opened new possibilities for content creators and multiplied the entertainment choices consumers have at their disposal. As India’s leading entertainment content company, ZEEL is strongly positioned to capitalize on this new growth opportunity. Our deep understanding of the Indian consumers will be as instrumental in helping us become the leader in the digital space as it was in helping us achieve the leadership in television. In a short time, ZEE5 has received an overwhelming response and I am confident that the platform will continue to scale-up going forward.”

Managing Director & CEO, ZEEL, Punit Goenka, said, “ZEE5 is the fastest growing entertainment platform in the country. In a little over six months, it has become the second most popular OTT platform. With a monthly active user base of 41 million and an average daily time spend of 31 minutes, it is growing faster than our expectations. Despite the strong initial performance, I believe it is just the beginning of a long digital journey for us. With a strong pipeline of original content and partnerships with key players in the digital ecosystem, we are confident that ZEE5 will become the default entertainment platform for the digital audience.”