Zee Entertainment Enterprises Limited (ZEEL) has announced its unaudited standalone and consolidated financial results for Q2 FY26. The board also addressed ongoing legal and investigatory matters, including those involving SEBI and JioStar. Despite challenges, the company continues to defend its position in various disputes and is taking steps to ensure shareholder interests are protected. The financial results have been reviewed by the audit committee and approved by the board.
Financial Highlights for Q2 FY26
Zee Entertainment Enterprises Limited reported its unaudited financial results for the second quarter of fiscal year 2026. Key figures from the standalone results include:
- Revenue from operations: ₹18,478 million
- Total Income: ₹18,692 million
- Profit before tax: ₹1,088 million
- Profit for the period: ₹783 million
For the consolidated results, the company reported:
- Revenue from operations: ₹18,478 million
- Total Income: ₹19,956 million
- Profit before tax from continuing operations: ₹1,154 million
- Profit for the period: ₹765 million
Addressing Legal and Regulatory Issues
The announcement addresses ongoing investigations by SEBI and inspections by the Ministry of Corporate Affairs concerning certain vendor transactions. An Independent Investigation Committee (IIC) was formed, concluding that transactions were part of normal business with no material irregularities. SEBI has issued a show cause notice, which the company is addressing legally. A settlement application is under consideration.
Dispute with JioStar
Zee is currently involved in a dispute with JioStar India Private Limited regarding the Alliance Agreement for broadcasting rights of ICC events. JioStar has claimed damages of USD 1,003 million. Zee has filed a counterclaim and maintains it is not in default, believing JioStar’s claims are legally untenable.
Other Key Points
- The company has exercised its option to convert its investment in Optionally Convertible Debentures (OCD) of Zee Studios Limited (ZSL).
- Subsidiary ZI-IPR Enterprises Limited was incorporated on October 1, 2025.
- IDBI Bank has filed an insolvency application against Zee, which the company is contesting.
- A Letter of Comfort (LOC) related to ATL Media Limited remains a subject of legal assessment.
Source: BSE