NEW DELHI: Zee Entertainment on Thursday reported a 84.75 per cent YoY fall in net profit at Rs 231 crore for March quarter, which fell short of Rs 247 crore profit anticipated by a Reuters poll.

The media company had reported a profit of Rs 1,515.20 crore in the corresponding quarter last year. The numbers in the year-ago profit was boosted by one-time gain of Rs 1,223 crore on account of sale of TEN Sports sale to Sony Pictures.

Operating revenue for the quarter rose 12.9 per cent to Rs 1,725.3 crore compared with Rs 1528.0 crore in the year-ago quarter. Ebitda came in at Rs 506.20 crore, translating into margin of 29.30 per cent.

During the quarter, Zee's consolidated advertising revenue grew by 23.9 per cent YoY to Rs 1,049.60 crore. On a comparable basis (excluding sports, RBNL and IWPL) the domestic advertising revenue growth was up 21.5 per cent.

"The strong growth momentum in advertising spends witnessed in the last quarter continues. The recovery in rural demand is complementing the already strong urban demand which should continue to hold advertising in good stead," the company said in a release.

Domestic and international subscription revenues for the quarter declined by 0.7 per cent YoY and 8 per cent YoY, primarily on account of sale of sports business. On a like to like basis, the domestic subscription revenue grew 18.1 per cent. Domestic subscription revenue growth for the quarter was aided by the deals that were closed in the quarter and the catchup revenues associated with the same, the company said.