Zee Entertainment reports nearly 9% yoy rise in Q3 net profit at Rs 250.81 crore

NEW DELHI: Zee Entertainment on Tuesday reported lower-than-expected 8.64 per cent increase in consolidated net profit at Rs 250.81 crore for the quarter ended December 31, 2016 against Rs 230.86 crore reported for the corresponding quarter last year.

The consolidated total income from operations jumped 3.38 per cent on a year-on-year basis to Rs 1639.12 crore for the quarter under review. It had reported total income from operations at Rs 1695.44 crore in the same quarter a year ago.

Analysts in an ETNow poll had earlier predicted a net profit and sales of Rs 288 crore and Rs 1,642 crore, respectively, for the quarter.

During the quarter, Zee Entertainment launched HD feed of 3 regional channels taking the count of non-sports HD channels to 9. It also got into an agreement with Reliance Broadcast Network Ltd (RBNL) to acquire its television broadcasting operations.