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Zee Q3 profit down 11%

Indian media company Zee Entertainment Enterprises has reported a 10.9 per cent decline in consolidated net profit at Rs 275 crore (€37.1m) for the third quarter ended December 31st 2015.

The company had posted a net profit of Rs 308.61 crore for the corresponding period a year ago, it said in a filing to the BSE.

However, total income of the company on consolidated basis increased 16.96 per cent to Rs 1,595.08 crore during the quarter under review as against Rs 1,363.72 crore in the year -ago period.

“ZEE saw an impressive performance in the third quarter. We grew ahead of the market through improved performance of our existing channels as well as new channels. Our vision is to provide long-term sustainable growth to our shareholders,” said Subhash Chandra, chairman of Zee Entertainment.

Over the outlook, he said, “Our investments continue to provide us with positive results. We will continue to identify and pursue profitable investment opportunities that will enable us to join the ranks of world’s leading media companies and become the first Indian media company to do so.”

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