Zee Entertainment jumps after impressive Q2 results

Zee Entertainment Enterprises share price soared almost 7 per cent after the company announced impressive Q2 results.

The company’s consolidated profit for Q2FY18 increased by 147.8 per cent year-on-year to Rs 590.80 crore from Rs 238.40 crore in Q2FY17.

ZEE’s total income on consolidated basis was up 2.67 per cent to Rs 1,785.18 crore during the quarter under review as against Rs 1,738.67 crore of the corresponding quarter last fiscal. Advertising revenue for the quarter stood at Rs 986.70 crore, recording a growth of 2.9 per cent.

However, due to fall in subscription and other sales and services businesses, revenue from operations during the quarter declined 6.7 per cent to Rs 1,582 crore.

The company claims that Zee was the top non-sports entertainment television network during the quarter with a viewership share of 18.3 per cent. Zee Entertainment Enterprises Limited is a media and entertainment company engaged in providing broadcasting services.

The scrip opened at Rs 496.00 per share and closed at Rs. 525.95 per share, up Rs. 34.30 or 6.98 per cent. The scrip touched a high and low of Rs 537.45 and Rs 492.70, respectively on the national stock exchange. The stock attracted a traded volume of 1,28,52,101 shares on the NSE.