Zee Entertainment jumps after strong Q3 results

Zee Entertainment Enterprises rose 3.25% to Rs 471.55 at 9:19 IST on BSE after consolidated net profit rose 50.56% to Rs 562.76 crore on 17.88% increase in net sales to Rs 2,166.77 crore in Q3 December 2018 over Q3 December 2018.

The result was announced after market hours yesterday, 15 January 2019.

Meanwhile, the S&P BSE Sensex was up 47.85 points, or 0.13% to 36,366.18.

On the BSE, 90,000 shares were traded in the counter so far compared with average daily volumes of 1.29 lakh shares in the past two weeks. The stock had hit a high of Rs 475.90 and a low of Rs 462.30 so far during the day. The stock hit a 52-week high of Rs 619.35 on 17 January 2018. The stock hit a 52-week low of Rs 410.30 on 5 October 2018.

Revenue growth was driven by the strong performance of broadcast business. EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter grew by 26.9% to Rs 754.30 crore and EBITDA margin stood at 34.8%.

Advertising revenue for the quarter was Rs 1462.60 crore, growth of 21.7% year-on-year (YOY). Domestic advertising revenue grew by 20.6% YOY to Rs 1371.90 crore. International advertising revenue was Rs 90.70 crore.

Subscription revenue for the quarter was Rs 618.50 crore, growth of 23.3% YOY. Domestic subscription revenue grew by 28.6% YOY to Rs 519.20 crore. International subscription revenue was Rs 99.30 crore.

Zee Entertainment Enterprises is one of India's leading media and entertainment companies.

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