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Zee Entertainment Enterprises surged 6.37% to Rs 259.75 at 15:25 IST on BSE after consolidated net profit surged 42.04% to Rs 224.64 crore on 19.73% growth in total income to Rs 1045.42 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during trading hours today, 25 July 2013.
Meanwhile, the S&P BSE Sensex was down 269.67 points or 1.34% at 19,821.01.
The stock surged on heavy volumes. On BSE, 22.60 lakh shares were traded in the counter as against average daily volume of 1.83 lakh shares in the past one quarter.
The scrip was volatile. The stock rose as much as 7.43% at the day's high of Rs 262.35 so far during the day, which is a 52-week high for the counter. The stock lost as much as 4.17% at the day's low of Rs 234 so far during the day. The stock had hit a 52-week low of Rs 152.25 on 24 July 2012.
The stock had underperformed the market over the past one month till 24 July 2013, surging 5.83% compared with the Sensex's 8.36% jump. The scrip had, however, outperformed the market in the past one quarter, jumping 11.81% as against Sensex's 4.75% rise.
The large-cap media company has equity capital of Rs 95.98 crore. Face value per share is Re 1.
Zee Entertainment Enterprises' (Zee) consolidated advertising revenue rose 18.5% to Rs 530.10 crore while subscription revenue rose 16.5% to Rs 424.10 crore in Q1 June 2013 over Q1 June 2012. The company's earnings before interest, taxation, depreciation and taxation (EBITDA) surged 25% to Rs 291.50 crore in Q1 June 2013 over Q1 June 2012. EBITDA margin edged up to 29.9% from 27.7% in Q1 June 2012.
Commenting on the company's Q1 performance, Mr. Subhash Chandra, Chairman, Zee said that the company's performance during the quarter reflects the investments that Zee is making to grow its business and market share.
Mr. Punit Goenka, MD & CEO of Zee said that Q1 June 2013 was a good quarter both on operating as well as financial parameters. The subscription revenue during the quarter has shown robust increase and with digitization rollout, will improve in the medium term, he said. Goenka further said that Zee has maintained viewership share both in national and regional languages, which led to better advertising growth relative to the industry. "During the quarter, we have been able to maintain healthy operating margins, driven by robust ad revenue growth and continuing monetization of subscription revenues. Sports performance for the quarter has been good but due to a heavy sports calendar and rupee depreciation, the business is expected to be in losses for some more time to come", Goenka said.
Commenting on the change in the industry landscape, Goenka said, "These are exciting times and we are witnessing a lot of changes in the industry landscape. The phased implementation of TRAI regulation, with respect to advertising inventory on a clock-hour basis has started and is expected to be fully in place by the end of second quarter. DAS implementation in Phase I and II also move a step further with MSOs making substantial progress in capturing consumer data and taking first steps towards implementing packaging".
On future business outlook, Goenka said that with the company's content focused approach combined with better monetization of subscription revenues, will contribute to company delivering steady return in the years ahead.
Meanwhile, at the Annual General Meeting (AGM) of Zee Entertainment Enterprises held today, 25 July 2013, the shareholders have passed a special resolution approving enhancement of FII investments limit in the company beyond the current limit of 49% up to the maximum sectoral limit allowed under applicable FDI regulations.
Zee Entertainment Enterprises is one of India's leading television media and entertainment companies.
Zee Entertainment firmly in the picture after strong Q1 results | Business Standard
.
The Q1 result was announced during trading hours today, 25 July 2013.
Meanwhile, the S&P BSE Sensex was down 269.67 points or 1.34% at 19,821.01.
The stock surged on heavy volumes. On BSE, 22.60 lakh shares were traded in the counter as against average daily volume of 1.83 lakh shares in the past one quarter.
The scrip was volatile. The stock rose as much as 7.43% at the day's high of Rs 262.35 so far during the day, which is a 52-week high for the counter. The stock lost as much as 4.17% at the day's low of Rs 234 so far during the day. The stock had hit a 52-week low of Rs 152.25 on 24 July 2012.
The stock had underperformed the market over the past one month till 24 July 2013, surging 5.83% compared with the Sensex's 8.36% jump. The scrip had, however, outperformed the market in the past one quarter, jumping 11.81% as against Sensex's 4.75% rise.
The large-cap media company has equity capital of Rs 95.98 crore. Face value per share is Re 1.
Zee Entertainment Enterprises' (Zee) consolidated advertising revenue rose 18.5% to Rs 530.10 crore while subscription revenue rose 16.5% to Rs 424.10 crore in Q1 June 2013 over Q1 June 2012. The company's earnings before interest, taxation, depreciation and taxation (EBITDA) surged 25% to Rs 291.50 crore in Q1 June 2013 over Q1 June 2012. EBITDA margin edged up to 29.9% from 27.7% in Q1 June 2012.
Commenting on the company's Q1 performance, Mr. Subhash Chandra, Chairman, Zee said that the company's performance during the quarter reflects the investments that Zee is making to grow its business and market share.
Mr. Punit Goenka, MD & CEO of Zee said that Q1 June 2013 was a good quarter both on operating as well as financial parameters. The subscription revenue during the quarter has shown robust increase and with digitization rollout, will improve in the medium term, he said. Goenka further said that Zee has maintained viewership share both in national and regional languages, which led to better advertising growth relative to the industry. "During the quarter, we have been able to maintain healthy operating margins, driven by robust ad revenue growth and continuing monetization of subscription revenues. Sports performance for the quarter has been good but due to a heavy sports calendar and rupee depreciation, the business is expected to be in losses for some more time to come", Goenka said.
Commenting on the change in the industry landscape, Goenka said, "These are exciting times and we are witnessing a lot of changes in the industry landscape. The phased implementation of TRAI regulation, with respect to advertising inventory on a clock-hour basis has started and is expected to be fully in place by the end of second quarter. DAS implementation in Phase I and II also move a step further with MSOs making substantial progress in capturing consumer data and taking first steps towards implementing packaging".
On future business outlook, Goenka said that with the company's content focused approach combined with better monetization of subscription revenues, will contribute to company delivering steady return in the years ahead.
Meanwhile, at the Annual General Meeting (AGM) of Zee Entertainment Enterprises held today, 25 July 2013, the shareholders have passed a special resolution approving enhancement of FII investments limit in the company beyond the current limit of 49% up to the maximum sectoral limit allowed under applicable FDI regulations.
Zee Entertainment Enterprises is one of India's leading television media and entertainment companies.
Zee Entertainment firmly in the picture after strong Q1 results | Business Standard
.
