Zee Entertainment Q3 Results: Net Profit Dips 5% YoY as Revenue Surges 15%

Zee Entertainment Enterprises (ZEEL) released its Q3FY26 financial results, showing a mixed performance with revenue growth but a slight decline in net profit. The numbers paint a story of a company navigating both challenges and opportunities in India’s entertainment sector.

Market Performance: Revenue Growth Amid Profit Pressure

For the quarter ending December 31, 2025:

• Consolidated Net Profit: ₹155 crore, down 5% YoY from ₹164 crore in Q3FY25
• Quarter-on-Quarter (QoQ) PAT: Jumped 103% from ₹76 crore in Q2FY26
• Operational Revenue: ₹2,149 crore, up 15% YoY from ₹1,836 crore
• Revenue QoQ Growth: 9% increase from ₹1,969 crore in Q2FY26

Despite the drop in net profit compared to the previous year, the strong revenue growth indicates improved operational momentum and business expansion.

Expenses and EBITDA Performance

ZEEL reported a notable increase in expenses during Q3FY26:

• Total Expenses: ₹2,087 crore, up 11% QoQ (₹1,880 crore in Q2FY26) and 20% YoY (₹1,735 crore in Q3FY25)
• EBITDA: ₹241 crore, down 24% YoY but up 64% QoQ
• EBITDA Margin: 16.1%, compared to 7.4% in Q2FY26 and 10.5% in Q3FY25

The rising margins, despite higher expenses, reflect better operational efficiency compared to the previous quarter.

Revenue by Segment: Advertising, Subscription, and Other Sales

ZEEL’s growth story is shaped by its revenue mix, with varying trends across segments:

• Advertising Revenue: ₹852 crore
  • Increased from ₹806 crore in Q2FY26
  • Lower than ₹941 crore in Q3FY25, affected by a soft domestic advertising market
• Subscription Revenue: ₹1,050 crore
  • Up from ₹1,023 crore in Q2FY26
  • Higher than ₹983 crore in Q3FY25, driven by growing digital adoption
• Other Sales and Services: ₹378 crore
  • Jumped from ₹140 crore in Q2FY26
  • Below ₹557 crore in Q3FY25, mainly influenced by distribution rights sales

The data indicates a shift towards digital and subscription-led revenue, even as advertising remains subdued.

Zee Entertainment Share Price Today

The stock responded positively to the Q3 results:

• Intraday Low: ₹82.22 per share (BSE)
• Intraday High: ₹86.31 per share
• Trading Movement: Over 3% gain following the results

The price movement reflects investor focus on revenue growth and margin expansion, despite YoY profit pressure.

Key Takeaways from Q3FY26 Results

• Revenue growth of 15% YoY demonstrates resilience in operational performance.
• Net profit decline of 5% YoY highlights cost pressures and slower advertising recovery.
• Strong QoQ PAT growth and EBITDA margin expansion suggest improved efficiency.
• Subscription revenues continue to gain momentum, supporting long-term digital growth.

ZEEL’s Q3 results reflect a company balancing traditional advertising challenges with emerging digital opportunities. Revenue expansion and margin improvements hint at steady progress, while the drop in YoY net profit underscores the current market headwinds.

Source: Livemint