Zee Entertainment Enterprises Limited (ZEEL) announced a rise in Q2 FY26 operating revenue to Rs 19,692 Mn, an increase of 8% QoQ. The company is actively investing in content for long-term growth, leading to an EBITDA of Rs 1,464 Mn with a margin of 7.4%. ZEE5’s revenue grew 32% YoY, reaching Rs 3,108 Mn, while the network’s market share rose by 100 bps.
Financial Performance
Zee Entertainment reported the following key financial highlights for Q2 FY26:
- Operating Revenue: Rs 19,692 Mn, up 8% QoQ
- EBITDA: Rs 1,464 Mn
- EBITDA Margin: 7.4%
The company maintains a healthy balance sheet, with cash and cash equivalents of Rs 21.1 Bn as of September 2025.
Linear TV Performance
The ‘Z’ Network has increased its market share across key regions. The All India TV Network share reached 17.8% in Q2 FY26, a rise of 100 bps QoQ. Television landscape remains stable with total TV viewership remaining consistent.
Digital Performance
ZEE5, the company’s digital platform, continues to show strong growth:
- Revenue Growth: 32% YoY
- Q2 FY26 Revenue: Rs 3,108 Mn
- EBITDA Losses: Reduced by over 80% YoY
The platform released 26 shows and movies, including 7 originals during the quarter.
Key Strategic Focus
The company is focused on achieving breakeven via revenue growth while maintaining a balanced cost structure. ZEE5 recorded its highest-ever quarterly revenue. The business expects momentum in performance improvement to continue, driven by both growth and operating leverage.
Factors Impacting Performance
The company notes that a soft advertising environment impacted profitability. Domestic advertising revenue declined by 12% YoY due to a slowdown in FMCG spending. The company aims to optimize cost structure and selectively invest for future growth.
Source: BSE
