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Indian broadcaster Zee’s profit falls as FIFA-related costs weigh
India’s Zee Entertainment Enterprises reported a 38% drop in quarterly profit on Friday, as costs related to the FIFA World Cup broadcast and other initiatives offset gains from subscription growth. The broadcaster’s consolidated profit fell to 478 million rupees ($5 million) for the July-September period, from 765 million rupees a year earlier. Higher advertising and promotion spending would likely pressure Zee’s core profit margins, Elara Capital analysts said in a pre-earnings note. Zee said its programming and advertising expenses grew on account of FIFA, expanded content offerings and inv...
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