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Essel Group company Zee Entertainment Enterprises has posted a 10.66 per cent increase in consolidated net profit at Rs 180.35 crore for the quarter ended March 31, 2013.
The net profit was Rs 162.97 crore in the same quarter of the previous fiscal, the company said in a filing to the BSE.
Consolidated sales stood at Rs 964.29 crore (Rs 869.06 crore).
For the financial year ended March 31, 2013, Zee Entertainment posted a net profit of Rs 718.15 compared with Rs 590.71 crore in 2011-12 fiscal.
“Zee has a very successful year in FY 2013, with strong financial results, reflecting our focus in delivering superior performance. This year also marked the completion of 20 years of brand Zee. To mark the 20th year celebration, the board has recommended a cash dividend of Rs two per share,” company Chairman Subhash Chandra said.
FII investments
In a separate filing to the BSE, Zee Entertainment has informed that its board of directors has approved enhancement of FII investments in the company beyond the current limit of 49 per cent up to the maximum sectoral limit allowed under applicable FDI regulations, subject to appropriate approvals.
The company scrip ended at Rs 241.35 on the BSE, down 1.45 per cent from its previous close.
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