ZEEL Q1 profit rises 42% to Rs 224.64 crore

The Essel Group Company Zee Entertainment Enterprises Ltd (ZEEL) posted 42.04 per cent increase in consolidated net profit to Rs 224.64 crore for the first quarter ended June 30, 2013.

The company had posted a consolidated net profit of Rs 158.15 crore in the same period of previous fiscal, ZEEL said in a filing to the BSE.

Consolidated total income stood at Rs 973.25 crore in the April-June quarter of this fiscal compared to Rs 842.96 crore during the same period of 2012-13.

Subhash Chandra, ZEEL Chairman said, “Our performance during the quarter reflects the investments that Zee is making to grow its business and market share. This has been accompanied by a strong improvement in the operating performance of the company during the quarter.”

“In a highly competitive space, Zee continues to build its media assets and in the process continues to create a value for the shareholders. We have a strong balance sheet and I am confident that we would take advantage of the growth opportunities ahead of us,” he said further.

ZEEL’s total consolidated revenue from advertising also grew 18.53 per cent to Rs 530.07 crore during the quarter as against Rs 447.19 crore in the same period of last fiscal, the company said.

Company’s consolidated revenue from subscription also increased to Rs 424.07 crore this quarter. It was Rs 364.12 crore in first quarter of the last year.

Source: http://cablequest.org/news/national-news/item/2887-zeel-q1-profit-rises-42-to-rs-224-64-crore.htmlSource: http://cablequest.org/news/national-news/item/2887-zeel-q1-profit-rises-42-to-rs-224-64-crore.html