Zee Entertainment Enterprises (ZEEL) will be among nearly four dozen companies that will announce their Q2FY25 earnings on Friday. The company is expected to report revenue of Rs 2,059 crore for the quarter ended September 30, 2024, which may fall by 16% on the year-on-year basis and 3% on a quarter-on-quarter basis.In Q2FY24, Zee had reported revenue of Rs 2,438 crore while posting Rs 2,130 crore in Q1FY25.Core net profit for the reporting quarter is pegged around Rs 153 crore which will likely be an 18% uptick over Rs 130 crore reported by the company in the year ago period. On a sequential basis, it will rise by 4% against Rs 147 crore reported in the April-June quarter.The estimates were given by Nuvama Institutional Equities.Earnings before interest, taxes, depreciation and amortisation (EBITDA) is seen at Rs 264 crore which could decline by 21% YoY and 3%, sequentially. In Q2FY24, EBITDA stood at Rs 333 crore while in Q1FY25, it stood at 271 crore. Nuvama in a note said that the decline in revenue/EBITDA will be due to high revenue base from movies like Gadar 2. "We expect ad revenues to decline 6.7% YoY, due to weak July vis-a-vis previous year but shall remain flat QoQ broadly due to stable ad macros," this brokerage said in its preview note.Nuvama also expects subscription revenue to grow 6.5% but it could decline 4.2% QoQ. It anticipates growth in Zee5 to be muted a bit on a sequential basis due to controlled cost rationalisation as ZEE is focussing on improving EBITDA margins."We reckon EBITDA margin would decline 62 bps YoY but shall remain flat QoQ to 12.8% due to Zee's various cost initiative measures. We anticipate a gradual recovery in ad spends over H2FY25-26 given gradual rural recovery. La Nina effect is playing out well (above normal rains followed by likely colder winters) which could lead to FMCG advertisers hiking A&P spends, followed by wedding and festival season in H2FY25," the brokerage note said.Shares of Zee settled at Rs 125.99 on the NSE on Thursday, declining by Rs 3 or 2.3% over Wednesday closing price. The stock has fallen 51% in the past 12 months mainly after its deal with Sony broke. This year, its fall is to the tune on 56%(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)