Zee Entertainment leads gainers in 'A' group

Apollo Tyres, JSW Energy, IPCA Laboratories and Adani Power are among the other gainers.

Zee Entertainment Enterprises spurted 6.33% to Rs 259.65 and topped the gainers in the BSE's 'A' group. The company's consolidated net profit surged 42.04% to Rs 224.64 crore on 19.73% growth in total income to Rs 1045.42 crore in Q1 June 2013 over Q1 June 2012. The Q1 result was announced during trading hours today, 25 July 2013.

Zee Entertainment Enterprises' (Zee) consolidated advertising revenue rose 18.5% to Rs 530.10 crore while subscription revenue rose 16.5% to Rs 424.10 crore in Q1 June 2013 over Q1 June 2012. The company's earnings before interest, taxation, depreciation and taxation (EBITDA) surged 25% to Rs 291.50 crore in Q1 June 2013 over Q1 June 2012. EBITDA margin edged up to 29.9% from 27.7% in Q1 June 2012.

Commenting on the company's Q1 performance, Mr. Subhash Chandra, Chairman, Zee said that the company's performance during the quarter reflects the investments that Zee is making to grow its business and market share.

On future business outlook, Mr. Punit Goenka, MD & CEO of Zee said that with the company's content focused approach combined with better monetization of subscription revenues, will contribute to company delivering steady return in the years ahead.

Meanwhile, at the Annual General Meeting (AGM) of Zee Entertainment Enterprises held today, 25 July 2013, the shareholders have passed a special resolution approving enhancement of FII investments limit in the company beyond the current limit of 49% up to the maximum sectoral limit allowed under applicable FDI regulations.

Apollo Tyres surged 4.62% to Rs 69 and was second biggest gainer in 'A' group. The stock rose on bargain hunting after falling 7.76% in four trading days to Rs 65.95 on 24 July 2013 from a recent high of Rs 71.50 on 18 July 2013.

JSW Energy jumped 4.59% to Rs 44.40 and was the third biggest gainer in 'A' group. The company announces Q1 June 2013 results tomorrow, 26 July 2013.

IPCA Laboratories surged 4.51% to Rs 657.90 and was fourth biggest gainer in 'A' group. The stock rose on bargain hunting after falling 9.72% in seven trading days to Rs 629.50 on 24 July 2013 from a recent high of Rs 697.30 on 15 July 2013. The company announces Q1 June 2013 results on 30 July 2013.

Adani Power rose 4.37% to Rs 40.60 and was fifth biggest gainer in 'A' group. The company announces Q1 June 2013 results on 1 August 2013.

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