Media firm Zee Entertainment Enterprises (ZEEL) Tuesday reported a 27.04 per cent increase in consolidated net profit at Rs 238.38 crore for the second quarter ended September. The corresponding figure stood at Rs 187.63 crore in the same quarter a year ago, ZEEL said in a BSE filing. ZEEL’s total income on consolidated basis was up 22.98 per cent at Rs 1,695.44 crore during the quarter under review as against Rs 1,378.59 crore in the last fiscal.
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ZEEL MD and CEO Punit Goenka said: “Our advertising revenues continue to grow ahead of market on the back of improving viewership share and better monetisation of our bouquet. Growth in domestic subscription revenue was aided by catch-up revenue in the second quarter.” The company’s total expenses rose 19.25 per cent to Rs 1,239.81 crore as against Rs 1,039.65 crore. In the first half of 2015-16, ZEEL’s consolidated standalone net profit went up 24.47 per cent to Rs 455.34 crore as against Rs 365.81 crore a year earlier.
Its total income in the first half was also up 20.76 per cent at Rs 3,267.06 crore as against Rs 2,705.27 crore in the same period last year. “ZEEL reported well-rounded strong growth in revenues during the first half of fiscal 2017. While we continue to add new channels to our domestic and international broadcasting businesses, our new initiatives in movies, music, events and digital are taking shape and have started contributing to growth,” ZEEL Chairman Subhash Chandra said. The stock of ZEEL was trading 0.02 per cent lower at Rs 512.05 on BSE during afternoon trade.