Zee Entertainment Enterprises Ltd (ZEEL) today reported 21.14 per cent increase in consolidated net profit at Rs 217.58 crore for the fourth quarter ended March 31, 2014.
The company had reported a consolidated net profit of Rs 179.6 crore in the same period previous fiscal.
Consolidated total income stood at Rs 1,158.81 crore during the January-March quarter of 2013-14 fiscal, up 20.17 per cent, compared with Rs 964.29 crore during the same period previous fiscal, Zee Entertainment said in a BSE filing.
“Indian economy continued to grow at a sluggish pace of less than 5 per cent in FY14. This has put pressure on the overall advertising spends. Growth is expected to pick up. We expect that despite a slow economy, television media industry will continue on its double-digit growth path,” Zee Entertainment Chairman Subhash Chandra said.
The company’s total consolidated revenue from advertising grew 21.52 per cent to Rs 582.36 crore, while revenues from subscription increased marginally by 1.97 per cent to Rs 463.54 crore.
The company’s shares ended at Rs 293.90, up 1.91 per cent over the previous close on the BSE.