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Essel Group company Zee Entertainment Enterprises (ZEEL) today posted 10.66% increase in consolidated net profit at Rs 180.35 crore for the quarter ended March 31, 2013.
In the same quarter of the previous fiscal, the company's net profit was Rs 162.97 crore, ZEEL said in a filing to the BSE.
Consolidated sales of the company stood at Rs 964.29 crore for the quarter ended March 31, 2013, compared to Rs 869.06 crore during the same period of previous fiscal.
For the financial year ended in March 2013, ZEEL posted a profit of Rs 718.15 compared to 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," ZEEL Chairman Subhash Chandra said.
Chandra further said, "In addition, the board has announced distribution of Rs 2,000 crore through bonus issue of redeemable preference shares".
In a separate filing to BSE, ZEEL has informed that its Board of Directors has approved enhancement of FII investments in the company beyond the current limit of 49% up to the maximum sectoral limit allowed under applicable FDI regulations, subject to appropriate approvals.
Shares of ZEEL were trading at Rs 241.50, down 1.39% from its previous close, on the BSE.
