Zee Entertainment extends gains after Q3 profit beats estimates

The stock was up 4 per cent to Rs 476 on Wednesday, extending its Tuesday's 2 per cent gain on the BSE.

Shares of Zee Entertainment Enterprises rose 4 per cent to Rs 476 apiece on Wednesday, extending their 2 per cent gain on the BSE in the previous session, after the company reported a better-than-expected result for the quarter ended December 2018 (Q3FY19).

ZEE reported an 18 per cent year-on-year (YoY) jump in consolidated revenue at Rs 2,167 crore in Q3FY19, led by strong advertising growth. It had a revenue of Rs 1,838 crore in the same quarter last year. The company’s advertising revenues grew 21.7 per cent, while subscription revenues too registered strong growth of 23.3 per cent year on