ZEE climbs 7 pc after smart Q3 earnings

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SummaryShares of Zee Entertainment Enterprises rose by nearly 7 per cent today after the company posted 40.5 per cent jump in consolidated net profit for the third quarter ended December 31, 2012.

Shares of Zee Entertainment Enterprises (ZEE) rose by nearly 7 per cent today after the company posted 40.5 per cent jump in consolidated net profit for the third quarter ended December 31, 2012.

The media conglomerate's scrip jumped 5.41 per cent to close at Rs 234.65 on the BSE. During the day, the stock gained 7.27 per cent to Rs 238.80.

At NSE, the scrip ended at Rs 237.30, up 6.70 per cent from its previous close.

"Zee Q3 FY13 reported PAT was better than estimate led by higher subscription revenue," said, Rikesh Parikh, VP-Markets Strategy and Equities, Motilal Oswal Securities.

ZEE today posted 40.5 per cent jump in consolidated net profit at Rs 193.31 crore for the third quarter ended December 31, 2012.

This is against a consolidated net profit of Rs 137.61 crore for the same period last year, ZEE said in a statement.

Total income from operations stood at Rs 509.38 crore for Q3 FY'13 as against Rs 395.50 crore in the year-ago period, up 28.7 per cent.

Advertising revenues were up 28.8 per cent at Rs 509.4 crore, while subscription revenues grew by 25.6 per cent in the reported quarter.

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