The board of directors of Zee Telefilms, which met on Tuesday, announced the unaudited financial statements of the company for the six months ending September 30, 1999.

The company recorded a 24.3 per cent growth in total advertisement bookings on the Zee Network channels. During the six-month period, Zee Telefilms booked advertisement worth Rs 210.6 crore, up from Rs 169.5 crore.

"The net profit was boosted by strong advertisement bookings and export sales. We were also able to contain expenditure which has contributed to the profit," said Zee executive president (finance) B R Jaju.

ZTL has registered a 22.7 per cent increase in net sales and a 29.8 per cent increase in operating income before interest, depreciation and tax for the six months ended September 30, 1999, as compared to the same period a year ago. Income from operations stood at Rs 125.8 crore. Operating profit before interest, depreciation and tax increased to Rs 50.8 crore from Rs 39.2 crore in the year-earlier half.

Profit before tax of Rs 48.4 crore was up 32.7 per cent. These results were driven by a significant increase in export sales and advertising income. The earnings per share went up 31.5 per cent to Rs 210.6 crore.

The company has acquired 100 per cent interest in Zee Multimedia Worldwide Limited, an overseas company which has presence in the US, Europe, Africa and Middle East. ZMWL also owns 50 per cent stake in Asia Today Limited.

ZTL's EGM is scheduled for October 25 where it will consider the split of shares and the acquisition of Murdoch's stake in the joint ventures - ATL, SitiCable and Patco.