NEW DELHI: Zee Entertainment Enterprises Ltd (ZEEL) today reported 44.48 per cent increase in its consolidated net profit at Rs 308.61 crore for the third quarter ended December 31, 2014.
The company had registered a consolidated net profit of Rs 213.59 crore in the same period of previous fiscal, ZEEL said in a filing to the BSE.
Consolidated total income increased 14.75 per cent to Rs 1,363.72 crore in the October-December quarter of this fiscal as compared to Rs 1,188.36 crore during the same period of 2013-14.
"Our quarterly performance reflects the investments that ZEE is making to grow its business and market share. The viewership market share has been strong, which has helped us to continue to grow ahead of the market," ZEEL Chairman Subhash Chandra said.
On the outlook, he said that the business sentiments has been improving over the past few months.
"We are hopeful that this improved economic environment is going to lead sustained growth in the coming years. Media Industry would also benefit from the improvement in economic environment. TV ad spends are likely to further improve in the forthcoming quarters," Chandra said.
ZEEL's total consolidated revenue from advertising also grew 8.51 per cent to Rs 742.60 crore during the quarter as against Rs 684.31 crore in the same period last fiscal.
However, company's consolidated revenue from subscription declined 2.26 per cent to Rs 446.13 crore this quarter. It was at Rs 456.49 crore in the year-ago period.
Commenting on this, ZEEL MD and CEO Punit Goenka said:" TV industry had a good quarter as far as ad spend is concerned. The festive season saw a robust growth, Which moderated slightly post the festive period."
ZEEL's share were trading at Rs 386.60 per scrip on the BSE during afternoon trade, down 1.07 per cent from its previous close.