ZEEL's Q1FY27 operating margin trails sector median by 8.08 points
A -0.27% tax rate lifted net profit above pre-tax profit; the results were filed after market close.
Filed 10 Aug 2026, 20:05 IST · after market close · Zee Entertainment Enterprises Ltd (ZEEL)
Key takeaways
- ZEEL's consolidated operating margin of 5.22% was 8.08 percentage points below the 13.3% median among 137 Consumer Discretionary peers.
- The -0.27% tax rate lifted consolidated net profit to Rs 74.3 cr, above profit before tax of Rs 74.1 cr.
- Other income of Rs 31.2 cr supported consolidated profit before tax of Rs 74.1 cr in Q1FY27.
Price around the results
ZEEL ranked near the bottom on operating margin
ZEEL's consolidated operating margin of 5.22% was 8.08 percentage points below the 13.3% median for 137 Consumer Discretionary peers that had reported the same quarter. It ranked 18th from the bottom, putting its operating performance well below the sector comparison set.
Tax benefit improved reported profit quality
The negative tax charge of Rs 0.2 cr meant net profit of Rs 74.3 cr exceeded profit before tax of Rs 74.1 cr. This made the reported earnings look better than the pre-tax result, while other income of Rs 31.2 cr also supported pre-tax profit.
No market reaction yet after the late filing
The consolidated results were filed at 20:05 IST on 10 August 2026, after market close. There is therefore no post-results share-price reaction to assess against ZEEL's prior results history.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,907 cr |
| Other income | ₹31 cr |
| Expenses | ₹1,808 cr |
| Operating profit | ₹100 cr |
| Operating margin (%) | 5.22% |
| Interest | ₹13 cr |
| Depreciation | ₹44 cr |
| Profit before tax | ₹74 cr |
| Tax | ₹-0 cr |
| Net profit | ₹74 cr |
| EPS (₹) | ₹0.79 |
Operating margin of 5.22% compares with a Consumer Discretionary sector median of 13.30% across 137 peers that have reported Q1FY27.
What to watch
- Whether operating margin moves above 5.22% next quarter.
- Whether the tax rate remains at -0.27% or turns positive.
- Whether other income remains at Rs 31.2 cr.