Zee Entertainment Q3 profit jumps nearly 3-fold at ₹164 crore

India's Zee Entertainment Enterprises reported a sharp rise in third-quarter profit and margins on Thursday, boosted by cost cutting measures which offset lower advertisement revenue. Shares of the broadcaster closed up 2.4% after the results.

Zee reported a profit of 1.64 billion rupees ($18.96 million) for the three months ended Dec. 31, compared to 585 million rupees a year ago. Its subscription revenue rose 6.6% to 9.8 billion rupees, benefiting from the implementation of a 2022 tariff order which gave broadcasters more leeway to increase prices of TV channels.