Zee hikes stake in Ten Sports; net profit up 74%

The Subhash Chandra-led Zee Entertainment has acquired an additional 45 per cent in Taj TV, Mauritius — the owner of Ten Sports channel through its overseas subsidiary, Zee Sports International Ltd, Mauritius.

Further, Zee will also acquire an additional 50 per cent equity stake in Taj TV’s Indian arm, Taj Television (India) Pvt Ltd. This will, therefore, make it a wholly-owned subsidiary of the company. Zee Entertainment also said its consolidated net profit soared over 74 per cent to Rs 146.43 crore for the quarter ended December 31, 2009, compared with Rs 83.97 crore for the quarter ended December 31, 2008.