Zee Entertainment Falls 6% as Company Reports Rs 104 Crore Loss

$ZEEL rtainment Enterprises shares dropped nearly 6% on Wednesday after the company reported a net loss of Rs 104 crore in its latest quarter, missing market expectations. The sharp decline was triggered by weak advertising revenues, which were severely impacted by the ongoing Middle East conflict. Advertisers significantly held back spending towards the end of the quarter, the company said in its earnings update. Brokerage firm Elara Capital downgraded the stock to ‘Sell’ citing subdued ad revenue recovery and margin pressures. This marks another challenging quarter for the media major as it continues to navigate a tough advertising environment amid geopolitical tensions and cautious spending by brands. Investors remain wary about near-term recovery prospects.