India's Zee Entertainment falls to over 2-month low as quarterly profit drops

Zee Entertainment Enterprises

11/08/2026 05:15

** Shares of Zee Entertainment Enterprises ZEE.NS fall as much as 4.7% to 90 rupees, their lowest level since May 27; last down 1.3%
** Co on Monday reported Q1 profit decline of nearly 47% y/y; total income up 4.8% y/y
** Citi ("sell") raises PT to 80 rupees from 75 rupees; says sustained recovery in ad revenues is critical for meaningful margin expansion
** Adds, proposed promoter-led fund raise is key monitorable, could have implications on co's ability to pursue growth and investment plans
** Elara Capital ("sell", PT 80 rupees) says co's ad revenue weak partly because FMCG ad spends have moved to quick commerce and digital streams 
** ZEE on avg rated "hold" by 13 analysts; median PT is 91 rupees - LSEG-compiled data
** Stock up 3.6% YTD

(Reporting by Abhirami G in Bengaluru)
((abhirami.g@thomsonreuters.com))