Zee Ent shares soar 8% as Q2 net rises

Shares of Zee Entertainment Enterprises (ZEE) climbed 8 per cent today after it reported 8.72 per cent increase in consolidated net profit for the second quarter ended September 30.

The stock surged 8 per cent to Rs 416.45 on the BSE.

On the NSE, it gained 7.75 per cent to Rs 416.60.

ZEE has posted net profit of Rs 247.40 crore for the July-September quarter of the current fiscal, as against Rs 227.55 crore for the same period of last fiscal.

Total income of the company stood at Rs 1,384.90 crore during the quarter as against Rs 1,117.82 crore last year, ZEE said in a regulatory filing yesterday.
 

"ZEE has seen an impressive performance during the second quarter. The improvement in advertisement industry and improved performance of our network has helped us grow ahead of the market," its Chairman Subhash Chandra said.

In order to provide clear focus on international broadcasting operations, the company's board has approved in- principle the re-organisation of the overseas broadcasting operations of all international channels, excluding sports channels, English channels and uplinking activities currently housed under the company's overseas subsidiaries.