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Zee Entertainment Q4 Stand-Alone Profit Up

5/22/2013 3:13 AM ET

Zee Entertainment Enterprises Ltd. posted fourth-quarter stand-alone net profit of Rs.183.72 crore, up from Rs.134.53 crore for the quarter ended March 31 last year. Total income increased to Rs.715.65 crore from the Rs.625.69 crore in the corresponding quarter of the preceding year.

On a consolidated basis, the company posted fourth-quarter net profit of Rs.179.60 core, up from Rs.160.17 crore in Q4FY12. Total income rose to Rs.1,018.11 crore from Rs.920.05 crore in the year-ago quarter.

The company's board recommended a entertainment-enterprises-ltd.aspx'>dividend of Rs.2.00 per equity share of Re.1 each for the fiscal year 2013.

The board also approved enhancement of FII investments in the company beyond the current limit of 49 percent up to the maximum Sectoral limit allowed under applicable FDI regulations.

In addition, as a Special Reward to shareholders on completion of 20 years of broadcasting business of the company, the board further approved distribution of around Rs.2,000 crore, by way of Bonus issue of six percent Redeemable Preference Shares (RPS). Based on this decision, the company will issue 21 RPS of Re.1 each for every equity share of Re.1 each held in the company, through a Court approved Scheme of Arrangement.

At the BSE, Zee Entertainment shares are currently trading at Rs.246.25, up 0.55 percent from the previous close.

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by RTT Staff Writer

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