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Essel Group company Zee Entertainment Enterprises Ltd (ZEEL) today reported 26.03 per cent increase in consolidated net profit at Rs 236.31 crore for the second quarter ended September 30, 2013.
The consolidated net profit stood at Rs 187.49 crore in the same period of the previous fiscal, the company said in a filing with the BSE.
Consolidated total income stood at Rs 1,101.28 crore during the July-August quarter of this fiscal compared with Rs 953.50 crore during the same period last fiscal.
“While overall business environment has stayed slightly weak, ZEEL continued to grow its business at a healthy pace.
There was apprehension about the trends in advertising spends given the overall weakness in the economy. But the television media industry has continued to grow in double digits during the second quarter,” Zee Entertainment Chairman Subhash Chandra said.
The company’s total consolidated revenue from advertising grew 10.45 per cent to Rs 583.30 crore from Rs 528.08 crore and from subscription to Rs 458.12 crore (Rs 394.95 crore).
During the first half of the fiscal, ZEEL consolidated net profit increased 33.58 per cent to Rs 460.18 crore against Rs 344.49 crore in the year-ago period. Consolidated total income also increased to Rs 2,074.53 crore from Rs 1,796.46 crore.
The company’s shares were trading at Rs 258.55 apiece during the afternoon trade on the BSE, up 2.11 per cent from their previous close.
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