Worries about the higher scale of investments in the digital vertical taking a toll on margins were put to rest, at least in the September quarter, as Zee Entertainment reported better-than-expected financials. Aided by strong base business growth, operating profit margins came in at 34 per cent, up 300 basis points as compared to the year-ago number.
Analysts had expected the number to be in the 30-31 per cent mark. Profit at the operating level was up 37 per cent, despite the continued high programming costs that were up 25 per cent year-on-year. The cost increase was largely due ...
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