Page 5 - Zee Entertainment

Zee Entertainment Q4 results: Posts consolidated net profit of Rs 13.35 cr

Zee Entertainment Enterprises Ltd on Friday reported a consolidated net profit of Rs 13.35 crore in the March quarter. The company had posted a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal, Zee Entertainment Enterprises (ZEEL) said in a regulatory filing. Consolidated total income in the quarter stood at Rs 2,185.29 crore as against Rs 2,126.35 crore in the corresponding period a year ago, it added. In the fourth quarter of FY24, domestic advertising revenue grew 10.6 per cent year-on-year driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients, while subscription revenue growth was driven by pick up in linear subscription, the company said in an investor presentation. Total expenses in the fourth quarter were lower at Rs 2,043.76 crore as compared to Rs 2,083.35 crore in the year-ago period. The board of directors has recommended a final dividend of Re 1 per equity share having face value of Re 1

Zee Entertainment hits over four-year low; tanks 52% thus far in CY 2024

Analysts at Emkay Global Financial Services said Zee's near-term performance is likely to further deteriorate from current levels

Zee Media Corporation terminates CEO Abhay Ojha; Idris Loya to take over

Zee Media Corporation Limited said it had confirmed the cessation of employment of chief executive officer (CEO) Abhay Ojha with effect from May 4, 2024

NCLT admits personal insolvency plea against Zee's Subhash Chandra

Zee's Subhash Chandra had argued that the NCLT cannot rule on an individual's insolvency

Stocks to Watch: Infy, Bajaj Auto, Voda Idea, ICICI Lombard, Tata Comm, Zee

Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.

NSE to stop issuance of new futures and options contracts for ZEE

On April 16, the NSE said contracts for new expiry months for Zee Entertainment will not be issued once the existing contract months expire

NCLAT to hear IDBI Bank, Axis Finance plea on Zee-Sony merger on May 17

Axis Finance and IDBI had challenged the merger in NCLAT

Stocks to Watch today: Paytm, Maruti, ICICI Lombard, Lupin, PolicyBazaar

Stocks to watch on Wednesday, April 10, 2024: Seven stocks including Bandhan Bank, Exide Industries, Hindustan Copper, Vodafone Idea, India Cement, SAIL and Zee Entertainment are in F&O ban today.

Stocks to Watch: Healthcare, Titan, UB, Wipro, Zee, Voda Idea, Adani group

Stocks to watch on Monday, April 08, 2024: Shares of healthcare related firms likely to be in focus as Manipal nears acquisition of Medica Synergie.

Zee Entertainment should cut costs in profit pursuit, says panel

The committee has also advised halving the costs at Zee's technology and innovation centre in fiscal 2025, from the 6 billion rupees ($72 million) a year back, Zee said

Stocks to Watch, April 3: ZEEL, Anupam Rasayan, DroneAcharya, Olectra, Moil

Stocks to watch on Wednesday, April 3, 2024: ZEE's Managing Director and Chief Executive Officer, Punit Goenka, will take a 20-per cent cut in his personal remuneration

Amid 'frugal focus', Zee Ent boss Punit Goenka to take 20% pay cut

In January of this year, Japan's Sony Corporation decided to withdraw from a merger of its India unit with Zee, leading to a decline in Zee's share price

Stocks to Watch, April 1: Auto, Zomato, ZEE, RVNL, NHPC, Infy, Garden Reach

Stocks to Watch on Monday, April 1, 2024: Zomato has received a tax demand and penalty worth Rs 23.26 crore from Karnataka tax authorities

Zee Entertainment lays off 50% employees at Bengaluru's tech unit

The plan will optimise the resources and arrive at a cost-effective structure to drive continued growth for the company

ZEE introduces monthly management mentorship programme to meet key metrics

A special committee has been formed to offer strategic guidance, which includes achieving the targeted 20% Ebitda margin set forth by the MD & CEO

SC sets aside order directing Bloomberg to take down defamatory article

The Supreme Court on Friday set aside a trial court's order directing international media group Bloomberg to take down an allegedly defamatory news article against Zee Entertainment. The top court was hearing a plea filed by Bloomberg against the March 14 order of the Delhi High Court, which dismissed its appeal against the trail court order. A three-judge bench headed by Chief Justice D Y Chandrachud said the error committed by the trial judge had been perpetuated by the high court. "The error committed by the trial judge had been perpetuated by the high court. Merely recording that a prima-facie case exists for a grant of injunction, the balance of convenience lies in Zee's favour and that an irreparable injury would be caused would not amount to application of mind in the case," the bench, also comprising Justices J B Pardiwala and Manoj Misra, said while granting liberty to Zee to approach the trial court afresh with its prayer seeking injunction. Reacting on the apex court ord

Sebi to issue corrigendum on summons issued to Zee founder Subhash Chandra

The market regulator's statement comes in a response to the petition filed by Chandra alleging that the summons issued by Sebi is effectively a show cause notice and contains "conclusive" allegations

Can LS elections, IPL revive mood in media stocks? Here's what charts say

Analysts believe that Lok Sabha polls and IPL may provide short-term earnings boost, but the overall sentiment depends on how the RIL-Disney deal shapes up or a revival in Zee-Sony India merger talks.

ZEEL shareholders approve appointment of three independent directors

Zee Entertainment Enterprises shareholders have approved the appointment of three independent directors to the company's board. Special resolutions for approval of the appointment of - Uttam Prakash Agarwal, Shishir Babubhai Desai and Venkata Ramana Murthy Pinisetti were passed with majority by the shareholders of Zee Entertainment Enterprises Ltd (ZEEL) through a postal ballot process. All three special resolutions received over 75 per cent of the total number of valid votes, according to the Consolidated Report of the Scrutinizer shared by the company to bourses. "This outcome of the remote e-voting process concluded on 15th March 2024 reflects the shareholders' confidence in the Board of the Company," ZEEL said in a statement later. On February 5, 2024, ZEEL sent a postal ballot notice to seek approval of the shareholders for the appointment of three independent directors for their first term of three years, which is from December 17, 2023, to December 16, 2026. On Friday, Zee

Zee president and group chief technology officer Nitin Mittal resigns

Zee Entertainment's president and group chief technology officer Nitin Mittal has resigned as the company streamlines the vertical. The board of the company has accepted the resignation of Mittal, who was working in this role for the last two years, it added. This announcement comes amid strategic changes in the technology and data vertical, implemented by managing director and CEO Punit Goenka, a ZEEL statement said. "The MD & CEO has accepted the resignation of Nitin Mittal," it added. Under the guidance of the Board and in line with the strategic approach undertaken by the MD and CEO, significant steps are being implemented to build a new lateral structure that lays a sharper emphasis on accountability and results," said ZEEL. This is the second major exit from ZEEL recently. Last week Rahul Johri, who was President - Business of ZEEL, and heading revenue and monetisation, resigned after a stint of over three years. Earlier this month, its Chairman R Gopalan in an investor ..