Zee Entertainment Q1 net up 16 pc to Rs 251 cr

Media firm Zee Entertainment Enterprises Ltd (ZEEL) today reported a 15.84 per cent rise in its consolidated net profit at Rs 251.44 crore for the quarter ended June 30.
This is against a net profit of Rs 217.04 crore posted during the same period a year ago, ZEEL said in a BSE filing.
Total income from operations during the quarter under review stood at Rs 1,641.31 crore as against Rs 1,645.03 crore a year earlier.
Commenting on results, ZEEL Managing Director and Chief Executive Officer Punit Goenka said: "During the quarter, we recovered from the impact of demonetisation and the growth in the first two months was strong. However, the momentum was disrupted in June in the run up to GST implementation."

The company's advertising revenue during the quarter was Rs 966.45 crore, up 5.97 per cent. Its subscription revenue stood at Rs 479.11 crore, a decline of 9.28 per cent over the first quarter of the previous fiscal.
Meanwhile, the company said its board has approved appointment of Bharat Kedia as Chief Financial Officer with effect from August 1, in place of Mihir Modi, who will be moving to a new role in the company.
Its shares closed at Rs 550.35 apiece, down 0.74 per cent on BSE.