India's Zee Entertainment tumble after quarterly loss

Zee Entertainment Enterprises

20/05/2026 04:57

** Shares of Zee Entertainment Enterprises ZEE.NS down 4.1% to 84.1 rupees

** Broadcaster posts March-qtr consol net loss of 1.02 billion rupees vs profit of 1.88 billion rupees a year ago

** CFO and Deputy CEO Mukund Galgali attributed the poor performance to advertising revenues being "severely impacted" by the Middle East conflict, as advertisers reduced spending near quarter-end

** Motilal Oswal ("Neutral"; PT: 80 rupees) called the quarter a "dismal end to a subdued FY26"

** Says that continued FMCG ad spending slowdown is weighing on domestic revenue, with ad recovery key to any valuation re-rating

** Cuts adjusted PAT for FY27-28E by 5-6%

** Stock rated as "Buy" on average by 13 analysts; median PT at 111 rupees

** YTD, stock down 6.5%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))