Zee Entertainment gains 2% after profit matches expectations
Zee Entertainment advanced over 2% after its Q1FY19 profits were in line with the projected estimates. Its revenue grew by 15.1% yoy and 2.7% qoq to Rs1,772cr.
Revenue growth was on account of strong advertisement revenue owing to higher ad spends across categories and increase in its network viewership share.
It was also termed the No.1 television entertainment network with an all-India viewership share of 19.2% in Q1FY19. Further, it witnessed growth across viewership metrics and is amongst the top-5 digital entertainment platforms in the country.
The channel portfolio for Zee includes 37 domestic channels and 39 international channels. It also enjoys a strong overseas franchise (172 countries) and more than 1bn subscribers worldwide.
Following such an upbeat picture, the company is currently trading at Rs528.45 up by Rs11.15 or 2.16% from its previous closing of Rs517.30 on the BSE.
The scrip opened at Rs520 and has touched a high and low of Rs533.70 and Rs519 respectively. So far 35,09,891 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs49,684.75cr.
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