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ICICI Direct Report
Zee Entertainment Enterprises Ltd.’s Q2 FY21 operating performance was marred by one-offs (which have become more of a routine – third time in the last five quarters).
Results, as expected, were weak with advertisement revenues down approximately 26% YoY given the fall in ad pricing that is yet to recover to pre-Covid-19 levels.
Like-to-like subscription growth of 2.8% YoY (like-to-like domestic subscription growth of 2.3% YoY), was primarily led by Zee5 growth.
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