Essel Group net profits increased by 26.03%
Zee Entertainment Enterprises Ltd (ZEEL) reported 26.03% increase in its consolidated net profits for Q2 FY14, which ended on September 30, 2013, and made its actual value reach up to Rs 236.21 crore. Zee Entertainment Enterprises Ltd is an entertainment arm of Essel Group.
Zee Entertainment Enterprises Ltd mentioned in BSE filing that it had registered a consolidated net profit of Rs 187.49 crore in previous fiscal’s similar quarter. The consolidated total income is reported at Rs 1,101.28 crore during Q2 FY14 which is Rs 147.78 crore more than last fiscals’ Q2, i.e. Rs 953.50 crore.
The Chairman of Zee Entertainment Enterprises Ltd, Subhash Chandra, who also chairs the parent organisation Essel Group, said, “While the 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.”
The company mentioned that its total consolidated revenue increased by 10.45% to Rs 583.30 crore, from advertising, during Q2 FY14. It is higher as compared to Q2 FY13, where total consolidated revenue from advertising was Rs 528.08 crore.
Essel Group owned ZEEL’s consolidated revenue increased up to Rs 458.12 crore, from subscription, during Q2 FY14. It was Rs 394.95 crore during Q2 FY13.
During the afternoon trade at Bombay Stock Exchange, shares of ZEEL were trading at Rs 258.55 per share, which is 2.11% higher from last year close.
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