Zee Entertainment Enterprises rose 4.79% to Rs 516.45 at 12:59 IST on BSE after consolidated net profit jumped 148% to Rs 591.20 crore on 6.7% decline in operating revenue to Rs 1582.10 crore in Q2 September 2017 over Q2 September 2016.
The result was announced during trading hours today, 24 October 2017.Meanwhile, the S&P BSE Sensex was up 92.67 points, or 0.29% to 32,599.39.
On the BSE, 3.33 lakh shares were traded in the counter so far, compared with average daily volumes of 2.36 lakh shares in the past one quarter. The stock had hit a high of Rs 519.65 and a low of Rs 493 so far during the day. The stock hit a 52-week high of Rs 561 on 24 July 2017. The stock hit a 52-week low of Rs 428.50 on 23 December 2016.
The stock had underperformed the market over the past one month till 23 October 2017, falling 5.55% compared with 1.83% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.50% as against Sensex's 0.86% rise. The scrip had also underperformed the market in past one year, falling 3.77% as against Sensex's 15.36% rise.
The large-cap company has equity capital of Rs 96.04 crore. Face value per share is Re 1.
Zee Entertainment Enterprises (Zee) reported an exceptional gain of Rs 134.60 crore in Q2 September 2017 on account of sale of sports business.
During Q2 September 2017, the transaction for sale of sports broadcasting business of the company to Sony Pictures Networks India and its Affiliates (SPNI) was consummated with remittance of the balance consideration by SPNI.
Zee's consolidated earnings before interest taxes depreciation and amortization (EBITDA) rose 0.4% to Rs 491.20 crore in Q2 September 2017 over Q2 September 2016.
The company's advertising revenue rose 2.9% to Rs 986.70 crore in Q2 September 2017 over Q2 September 2016.
Zee Entertainment Enterprises is one of India's leading media and entertainment companies. Through its strong presence worldwide, the company entertains over 1.3 billion viewers across more than 170 countries.
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