RAM PRASAD SAHU Mumbai, 18 November tocks of broadcasting majors Zee Entertainment Enterprises and Sun TV Network have lost between 7 and 14 per cent from their respective monthly highs.
The July-September quarter (Q2 of FY23) numbers of both companies came in below Street estimates but Sun fared better than Zee.
Sun's advertising revenues remained unchanged as compared to the year-ago period while Zee reported a 7 per cent decline.
Both companies were impacted by the drastic cut in advertising by fast-moving consumer goods (FMCG) firms. This is significant as the consumer sector accounts for 50-60 per cent of the advertising pie in the broadcasting space. Zee also saw a market share loss of 130 basis points (bps) on a sequential basis.
Analysts led by Jaykumar Doshi of Kotak Institutional Equities highlighted that the company's advertising and operating profit were 17-62 per cent below pre-Covid levels.
هذه القصة مأخوذة من طبعة November 19, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 19, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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