Mumbai: Zee Entertainment Enterprises Limited (ZEEL) delivered a resilient performance in the third quarter of FY26, posting a 15% year-on-year increase in operating revenue to Rs 22,801 million, supported by steady subscription growth and disciplined cost management amid a subdued advertising environment.
For the quarter ended December 31, 2025, EBITDA stood at Rs 2,405 million, with margins improving to 10.5%, reflecting tighter cost controls even as the company continued to invest in content and programming. Over the nine-month period, operating revenue remained stable at Rs 60,741 million, while EBITDA reached Rs 6,149 million.
A key milestone during the quarter was the digital business turning EBITDA positive. ZEE5 reported revenues of Rs 10,188 million for the nine months, aided by a strong content pipeline and better operating leverage. During Q3 FY26, the platform launched 39 shows and movies, including 11 originals, strengthening engagement and viewer traction.
In broadcasting, the ‘Z’ Network continued to strengthen its position, with All India TV network share increasing by 60 basis points year-on-year to 17.5% in Q3 FY26. The growth was driven by consistent performance across Hindi and regional language channels, supported by targeted content launches.
The company maintained a robust balance sheet, with cash and cash equivalents of Rs 21.8 billion as of December 2025, providing flexibility to support future growth initiatives. ZEEL also optimised its content inventory and advances during the period, reflecting a sharper focus on content efficiency and returns.
On the sustainability front, Zee Entertainment’s ESG performance remained strong, with the company ranking in the 96th percentile globally within the Media, Movies and Entertainment sector, highlighting its continued emphasis on governance, social responsibility and environmental practices.
Looking ahead, the company expects profitability to improve further, supported by operating leverage, selective investments in growth areas and a gradual recovery in advertising demand over the medium term.
