Shares of Zee Entertainment Enterprises (ZEE) ended with 8.5 per cent gains today after it reported 8.72 per cent increase in consolidated net profit for the second quarter ended September 30.
After surging 9.56 per cent to Rs 422.50 -- its 52-week high -- in intra-day trade on BSE, shares of the company finally ended at Rs 418.50, up 8.53 per cent from its previous close.
On NSE, the stock settled 8.31 per cent higher at Rs 418.75.
The company's market valuation rose by Rs 3,160.78 crore to Rs 40,194.78 crore.
In terms of volume, 7.74 lakh shares of the company changed hands at BSE and over one crore at NSE during the day.
Zee Entertainment has reported 8.72 per cent growth in consolidated net profit at Rs 247.40 crore for the September quarter.
The company had posted a net profit of Rs 227.55 crore for the same period last fiscal.
Total income of the company stood at Rs 1,384.90 crore during the quarter as against Rs 1,117.82 crore last year, ZEE said in a regulatory filing yesterday.
"ZEE has seen an impressive performance during the second quarter. The improvement in advertisement industry and improved performance of our network has helped us grow ahead of the market," its Chairman Subhash Chandra said.
In order to provide a clear focus on international broadcasting operations, the company's board has approved in- principle re-organisation of the overseas broadcasting operations of all international channels, excluding sports and English channels and uplinking activities currently housed under the company's overseas subsidiaries.
