Zee Entertainment Q3 net profit up 74 pc

Mumbai, Jan 19: Posting a 74.49 per cent jump in its net profit at Rs 146.4 crore for the Dec 2009 quarter, Zee Entertainment on Tuesday, Jan 19 said it will consolidate its stake in Ten Sports at 95 per cent.

"Zee's performance over the last couple of quarters is reflective of its ability to grow viewership and revenues even under difficult market conditions. Now that the economy and sentiments have improved, we will continue building our product portfolio for creating value in the long-term," Zee Entertainment Enterprises (ZEE) Chairman Subhash Chandra said.

However, during the third quarter (Q3) ended on Dec 31, 2009, the media firm's total income dipped to Rs 563.2 crore as against Rs 585.7 crore in the year ago period.

In a filing to the Bombay Stock Exchange (BSE), Zee also announced the board of directors' approval for acquisition of additional 45 per cent equity stake in Taj TV Ltd, Mauritius.

OneIndia News