Zee Entertainment Q1 net profit up 16% at Rs 243 cr

Company's total income from operation on consolidated basis was up 26.98% to Rs 1,339.86 crore

Zee Entertainment Enterprises (ZEE) today reported a 15.76 per cent increase in its consolidated net profit at Rs 243.76 crore for the first quarter of 2015-16.

The company had a consolidated net profit of Rs 210.57 crore in the April-June quarter of the previous fiscal, ZEE said in a filing to the BSE.

ZEE's total income from operation on consolidated basis was up 26.98 per cent to Rs 1,339.86 crore during the quarter, from Rs 1,055.10 crore in the same period, last fiscal.

Commenting on the results ZEE Chairman Subhash Chandra said, "ZEE has recorded a satisfactory performance during the first quarter. Our investments have resulted in organic growth which is in line with our expectations."

On business outlook he said: "We will continue to build ZEE's presence in this highly competitive space by creating compelling content across genres and by pursuing new opportunities that will yield long term growth."

During the April-June quarter, advertising revenues of the company increased 25.4 per cent to Rs 779.99 crore as against Rs 622.10 crore in the year-ago period.

ZEE MD and CEO Punit Goenka said, "This clearly highlights the popularity of our programs which continue to attract loyal audiences. We continue to experience growth in both advertising and subscription revenues through the launch of new and innovative programming."

Shares of ZEE were trading at Rs 376.50 on BSE, up 0.49 per cent from its previous close.