Zee Entertainment Enterprises rose 4.01% to Rs 434.45 at 9:26 IST on BSE after the company's consolidated net profit rose 12.93% to Rs 260.61 crore on 12.39% growth in total income to Rs 1577.37 crore in Q4 March 2016 over Q4 March 2015.
The result was announced after market hours yesterday, 10 May 2016.Meanwhile, the BSE Sensex was down 142.76 points, or 0.55%, to 25,629.77.
On BSE, so far 56,000 shares were traded in the counter, compared with an average volume of 1.05 lakh shares in the past one quarter. The stock hit a high of Rs 436.75 and a low of Rs 420.75 so far during the day. The stock hit a 52-week high of Rs 440.30 on 21 October 2015. The stock hit a 52-week low of Rs 299.65 on 15 May 2015. The stock had outperformed the market over the past one month till 10 May 2016, rising 7.42% compared with 4.45% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.09% as against Sensex's 8.48% rise.
The large-cap company has an equity capital of Rs 96.04 crore. Face value per share is Re 1.
Zee Entertainment Enterprises' (Zee) advertising revenue rose 29.1% to Rs 864.50 crore in Q4 March 2016 over Q4 March 2015. Subscription revenue rose 16.4% to Rs 594.40 crore in Q4 March 2016 over Q4 March 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 52.8% to Rs 413.60 crore in Q4 March 2016 over Q4 March 2015.
Zee's board of directors at its meeting held yesterday, 10 May 2016, has taken on record the conclusion of acquisition of 49% equity stake in Fly By Wire International (FBW). It may be recalled that Zee had in March this year announced the acquisition of 100% equity stake in FBW which is engaged in aircraft charter services under a NSOP license from Director General of Civil Aviation (DGCA). At that time, Zee said that it initially proposes to acquire 49% equity stake in FBW and the balance 51% equity stake shall be acquired within 5 days of receipt of approval from Ministry of Civil Aviation. The process is expected to be completed by mid-July 2016, Zee said at that time.
Zee Entertainment Enterprises is one of India's leading television media and entertainment companies.
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