Zee Entertainment Enterprise Ltd yesterday reported a consolidated net profit of Rs 118.10 crore for the first quarter ended June 30, 2024.

The company had reported a net loss of Rs 53.42 crore in the April-June quarter a year ago, Zee Entertainment Enterprise Ltd said in a regulatory filing, according to a PTI report from New Delhi.

The total income of the company was up 7.56 per cent to Rs 2,149.52 crore during the quarter under review. It was at Rs 1,998.26 crore in the corresponding quarter.

Total expenses of ZEEL was at Rs 1,941.12 crore, marginally up in the June quarter of FY25.

“While Q1 has already started on a positive note with significant step up in margins, we expect gradual margin improvement to continue through the rest of the year,” the company said in the investor presentation, according to a news report in CNBC-TV18.

The quantum of the improvement in margins though, is subject to the pick-up in advertising revenues in the second half of the financial year, Zee said in its investor presentation.

Market research firm Elara Capital, in an advisory on Zee, observed, “We expect ad revenue momentum to pick up in the near term, helped by i) positive impact from the festive season, ii) higher spends by FMCG companies and iii) traction in regional GECs.”

It added: “Ad revenue for Zee may grow in the range of 3-5 percent YoY in the near-to-medium term, as TV medium shows resilience amongst other traditional media genres.”