Mumbai: Zee Entertainment recorded a consolidated net profit of Rupees 109 crore in Q3 FY26, more than doubling from Rupees 48 crore in Q3 FY25, despite a marginal revenue decline from Rupees 2,127 crore a year ago to Rupees 2,124 crore in the current quarter.
Revenue grew sequentially from Rupees 2,044 crore in Q2 and Rupees 2,048 crore in Q1. Profit showed a dip from Rupees 122 crore in Q2, while still outperforming Rupees 81 crore in Q1, supported by cost rationalization and higher other income.
Zee Entertainment Q3 FY26 Results: Revenue & Profit Growth 📊 | MCap 7,870.5 Cr
– Standalone revenue for Q3 FY26: ₹21,486M (vs ₹18,365M in Q3 FY25)
– Standalone profit: ₹1,116M with EPS of ₹1.16
– Consolidated revenue: ₹22,985M with profit of ₹1,636M and EPS of ₹1.62
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Sequential growth moderates amid higher costs
On a quarter-on-quarter basis, revenue rose 3.9 percent to Rupees 2,124 crore, while net profit declined 10.7 percent from Rupees 122 crore in Q2. Total expenses increased to Rupees 2,048 crore from Rupees 1,969 crore in Q2, led by higher employee costs and marketing spends. Margins came under pressure with EPS (basic and diluted) falling to Rupees 1.13 from Rupees 1.27 in the previous quarter. Other income rose to Rupees 64 crore from Rupees 59 crore, partially cushioning the impact of rising costs.
Management Commentary & Key Drivers
While no specific commentary was provided in the filing, the performance was driven by content monetization, digital growth, and sustained viewership in flagship channels. Notably, there were no exceptional losses this quarter. EPS improved significantly year-on-year from Rupees 0.49 in Q3 FY25 to Rupees 1.13, although it declined sequentially. Zee has also completed the acquisition of remaining 10 percent equity in Margo, making it a wholly-owned subsidiary.
Nine-month performance reflects resilience
For the nine months ended December 2025, Zee reported Rupees 6,216 crore in revenue from operations, nearly flat compared to Rupees 6,206 crore in the previous year period. Net profit rose 20.9 percent to Rupees 312 crore versus Rupees 258 crore in 9M FY25. With stable topline and improved profitability, the company’s operational performance indicates resilience amid sectoral headwinds and ongoing regulatory scrutiny.