Ad revenue rebounds; recovery to remain gradual

Company
21 May 2024
5 Min read 
  • Tanmay Gupta estimates changes in Zee Entertainment
  •  Bloomberg Z IN Equity Shares (m) 961 M.Cap.(INRb)/(USDb) 135.3 / 1.6
  •  4QFY24 saw Zee's revenue grow 10% YoY, led by ad revenue
  •  EBITDA/adj. PAT were up 39%/58% YoY
  •  Zee expects gradual recovery in revenues, driven by FMCG spending
  •  Zee maintains Neutral rating with a target price of INR160/share
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