ZEEL reappoints Punit Goenka as managing director and CEO

Zee Entertainment Enterprises has reappointed Punit Goenka as managing director and CEO for a five-year term, starting January 1, 2025, and ending December 31, 2029. This reappointment is subject to shareholder approval, the company stated in a BSE filing.

As the managing director and chief executive officer of ZEE Entertainment Enterprises, Goenka is successfully spearheading the diversified and profitable entertainment company comprising of broadcast, digital, movies and music.

With over 25 years in the industry, he has been at the forefront of identifying opportunities and steering the company’s expansion across 190+ countries globally. Goenka’s focus has been on enhancing the company’s performance and achieving its targeted goals, by creating quality entertainment content and bringing about a positive change in the society. 

He currently serves as a director on the board of the Indian Broadcasting & Digital Foundation (IBDF). Previously, he held key positions including chairman of the Broadcast Audience Research Council (BARC) India, where he was part of the founding team; chairman of IBDF, leading critical discussions with policymakers; and president of the India Chapter of the International Advertising Association (IAA).

The company has announced its financial results for the quarter ended September 2024, reporting a substantial increase in net profit and an improvement in profit margins, along with key corporate updates.

In the second quarter of FY25, Zee reported a 61% rise in net profit, reaching Rs 209 crore, compared to Rs 130 crore in the same period last year. However, revenue from operations declined by 19%, dropping to Rs 2,034 crore from Rs 2,510 crore in Q2FY24.

Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) decreased by 4% to Rs 321 crore, while the margin improved by 240 basis points, rising to 16% from 13.6% in the previous year. Zee also reported significant progress in achieving a balanced cost structure for its digital business, ZEE5, to support long-term growth. The EBITDA loss for the digital segment narrowed to Rs 158.8 crore, compared to Rs 265.2 crore last year.