Zee Entertainment net surges at Rs 59.22 crore

New Delhi, Apr 21: Media giant Zee Entertainment Enterprises Ltd today clocked a net profit of Rs 59.22 crore for the fourth quarter ended March 31, 2007, as compared to a net loss of Rs 13.25 crore for the corresponding period a year ago.

The total income also went down to Rs 216.56 crore for Q4FY07 as against Rs 266.13 crore in Q4FY06.

For the year ended March 31, 2007, the company posted a net profit of Rs 167.79 crore as against Rs 69.08 crore in the last fiscal.

Zee Entertainment Chairman Subhash Chandra said, ''The company finished the fourth quarter of FY07 with a strong operating profit growth of 112 per cent to Rs 95.1 crore. Despite the disruptions in this quarter, because of the Cricket World Cup and intense competitive activity, we have recorded a revenue growth of 11 per cent.'' He added that with rapid digitisation of television homes in India through digital satellite (DTH) and digital cable services, the company is confident of delivering superior returns.

''With the listing of Dish TV, the restructuring exercise is now complete. We are pleased that Dish TV has ended FY07 with a registered subscriber base of 1.9 million and is well poised to cross the three million mark in the coming year,''Mr Chandra added.

UNI