Zee Entertainment Q2 Net dips 38% at Rs 111 cr

Last Updated: Friday, October 23, 2009 - 20:43

Mumbai: Media firm Zee Entertainment on Friday
reported 38 per cent drop in its consolidated net profit at Rs
110.95 crore for the second quarter ended September 30, 2009.

The firm had a net profit of Rs 178.15 crore in the
second quarter of last fiscal, Zee Entertainment said in a
filing to the Bombay Stock Exchange.
Total income declined to Rs 569.62 crore during the July
-September quarter of the current fiscal, from Rs 599.62 crore
in the corresponding period last fiscal.

On a standalone basis, Zee Entertainment posted a net
profit of Rs 102.48 crore for the September quarter, a 77 per
cent growth over the year-ago period.

Total income decreased to Rs 303.51 crore during the
quarter under review, from Rs 324.38 crore in the same period
last fiscal.

Meanwhile, it also said the board has given its
in-principle approval for acquisition of the regional general
entertainment channel business of Zee News. The regional
channels of Zee News includes Zee Marathi, Zee Talkies, Zee
Bangla, Zee Telugu, Zee Kannada and Zee Cinemalu.

The board would discuss the terms of the arrangement,
including the share swap ratio and the appointed date of the
acquisition.
Shares of Zee Entertainment closed at Rs 227, down 5.04
per cent over previous close on the BSE.

Zee News Sep qtr net up 14.65%

Essel group company Zee News today
said its consolidated net profit rose by 14.65 per cent to Rs
13.14 crore for the quarter ended September 30, 2009, over the
same period last year.

Total income rose to Rs 161.23 crore in the latest
quarter against Rs 127.68 crore in the same period previous
fiscal, Zee News said in a filing to Bombay Stock Exchange.

On the standalone basis, the company has posted a net
profit of Rs 12.59 crore for the quarter under review, up
10.43 per cent from Rs 11.40 crore in the same quarter last
fiscal.

Bureau Report



First Published: Friday, October 23, 2009 - 20:43

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