Zee Entertainment Enterprises is trading higher by 3% at Rs 155, also its highest level since September 2009, in an otherwise weak market on reporting 21% year-on-year growth in consolidated net profit at Rs 157 crore for the quarter ended June 2012.
The company's consolidated revenue for the quarter grew 21% at Rs 843 crore on y-o-y basis. The EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved almost 500 bps to 27.7% from 22.3% during the recently concluded quarter.
Puneet Goenka, managing director and chief executive officer of Zee Entertainment said that the company's operating margins grew in the quarter as a result of higher viewership on of Zee TV and lower sports losses.
The stock opened at Rs 151, and has seen a combined 1.7 million shares changing hands on the counter so far on both the exchanges.
