Ad rebound offsets GST impact for Zee Entertainment

Street focus to be on success of digital initiatives

Zee Entertainment's September quarter performance was broadly in line with estimates, but even then the stock surged over nine per cent before closing higher by 6.6 per cent at Rs 525.50 on Tuesday. The results are not comparable though given the sale of its sports business, but a deeper look into the results gives confidence. More importantly, the second half of the fiscal year is expected to be much better, and could support the share price going ahead.

Consolidated revenues for the September quarter (Q2) were down 6.7 per cent over the year-ago quarter to Rs 1,582 crore. The results were