Zee Entertainment Enterprises Limited (ZEEL) reported a 15% YoY growth in operating revenue for Q3 FY26, reaching Rs 22,801 Mn. The company delivered positive EBITDA in its digital business. ZEE5 revenue grew by 45% YoY in 9M FY26, reaching Rs 10,188 Mn. EBITDA margin for Q3 FY26 stood at 10.5%, with an EBITDA of Rs 2,405 Mn. The company’s network share grew by 60 bps YoY.
Financial Performance Highlights
Zee Entertainment Enterprises Limited (ZEEL) showcased effective cost management, driving profitability in the face of a challenging advertising environment. Key highlights include:
- Operating Revenue: Grew by 15% YoY, with Q3 FY26 revenue reaching Rs 22,801 Mn.
- EBITDA Margin: Achieved 10.5%, translating to an EBITDA of Rs 2,405 Mn for Q3 FY26.
Digital Business Momentum
ZEEL’s digital arm, ZEE5, continued its growth trajectory:
- Revenue Growth: ZEE5 witnessed a 45% YoY revenue increase in 9M FY26, with revenue reaching Rs 10,188 Mn.
- Delivered positive EBITDA in Q3 FY26.
Linear TV Performance
Despite a stable TV landscape, ZEEL’s network share grew:
- Network Share: Increased by 60 bps YoY.
Balance Sheet Strength
The company maintains a healthy balance sheet:
- Cash and Cash Equivalents: Stood at Rs 21.8 Bn as of December 2025.
Content Releases
- Released 39 shows and movies in Q3 FY26, including 11 originals.
In-line to Achieve Breakeven
- Registered highest ever Quarterly Revenue and EBITDA.
ZEE5 expects to sustain momentum in performance improvement, driven by growth and operating leverage.
Content Inventory
Content Inventory and Advances Continues to Decline in 9M FY26 Driven by Optimised Acquisition and Releases
Source: BSE
