Zee Entertainment nears 52-week high post Q4 results

Zee Entertainment Enterprises has rallied 5% to Rs 438 on the BSE in an otherwise weak market after the company reported 13% year on year (YoY) jump in consolidated net profit at Rs 261 crore for the fourth quarter ended March 31, 2016 (Q4FY16), on back of double digit growth in operational revenues.

The company’s operating revenues during the quarter under review grew 14% to Rs 1,532 on YoY basis. EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin expanded 690 basis points to 27% over the previous year quarter.

Analysts on an average had expected profit of Rs 257 crore on revenues of Rs 1,466 crore for the quarter.

The board has recommended payment of equity dividend of Rs 2.25 per equity share of Re 1 each (equivalent to 225 % on the paid up equity capital), to the equity shareholders for FY 2015-16.

At 09:54 am, the stock was up 4.5% at Rs 436 on the BSE as compared to 0.4% fall in the benchmark S&P BSE Sensex. The stock is currently trading close to its 52-week high of Rs 440 touched on October 21, 2015.

A combined 2.86 million shares changed hands on the counter on the BSE and NSE so far.


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