Zee Entertainment Enterprises has moved higher by 7% to Rs 260, in otherwise weak market, after reporting a better-than-expected 43% year-on-year (yoy) jump in its consolidated net profit at Rs 225 crore for the quarter ended June 30, 2013 (Q1) due to higher advertising revenues and other income.
Analyst on an average had expected profit of Rs 190 crore from the media and entertainment firm.
The company’s consolidated operating revenues for the quarter increased by 15.5% at Rs 973 crore on yoy basis.
EBITDA or operating margin for the quarter expanded to 29.9% in Q1 FY2014 from 27.7% in Q1 FY13, Zee Entertainment said in a press release.
The stock opened at Rs 245 and hit a high of Rs 262, its highest level since September 2000, on BSE. A combined 12.25 million shares have changed hands on the counter till 1520 hours against an average sub 5 million shares that were traded daily in past two weeks.
Analyst on an average had expected profit of Rs 190 crore from the media and entertainment firm.
The company’s consolidated operating revenues for the quarter increased by 15.5% at Rs 973 crore on yoy basis.
EBITDA or operating margin for the quarter expanded to 29.9% in Q1 FY2014 from 27.7% in Q1 FY13, Zee Entertainment said in a press release.
The stock opened at Rs 245 and hit a high of Rs 262, its highest level since September 2000, on BSE. A combined 12.25 million shares have changed hands on the counter till 1520 hours against an average sub 5 million shares that were traded daily in past two weeks.
