Indian broadcaster Zee’s profit falls as FIFA-related costs weigh

Oct 30 (Reuters) 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. Here are some details: • 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 investments in other initiatives • ​Overall expenses rose 16%, pushing down core profit ​margins to 3.2% from 7.4% last ‌year • Subscription revenue rose 30%, helped by FIFA and a strong content pipeline driving subscriber growth • Zee’s traditional television business ⁠has come under pressure over the years as advertisers have been shifting spen