ZEE Entertainment rallies over 5% on strong Q2 results

NEW DELHI: ZEE Entertainment Ltd rallied over 5 per cent in afternoon trade on Monday, after the company reported results for the quarter ended September 30 which were ahead of analysts estimates.

ZEE Ltd reported 25.8 per cent YoY rise in its consolidated net profit figure at Rs 236.27 crore for the quarter ended September 30, 2013. Analysts polled by ET Now had estimated the company to report a number of Rs 205 crore.

The company had registered net profit of Rs 187.69 crore during the same period a year earlier, it said in a filing to the BSE.

At 01:30 p.m.; ZEE Entertainment pared some of the morning gains and was trading 3.3 per cent higher at Rs 261.65. It has hit a low of Rs 254.30 and a high of Rs 266.40 in trade today.

Its consolidated income from operations stood at Rs 1,156.20 crore for the quarter ended September 30, 2013, up 18 per cent from Rs 979.54 crore for the corresponding quarter of the previous year.