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Zee Entertainment Enterprises Q4FY16 consolidated net profit grows 13% yoy to Rs.260.61 crore : Estimates Mixed

The company’s consolidated revenue stood at Rs. 1,531.62 crore, up 13.7% yoy but down 3.98% qoq.

May 10, 2016 4:46 IST | India Infoline News Service
Zee Entertainment Enterprises, India's top entertainment company, reported consolidated net profit of Rs.260.61 crore for the quarter ended March 31, 2016, registering growth of 12.93% yoy, but decline of 5.23% qoq. The company’s revenue stood at Rs. 1,531.62 crore, up 13.7% yoy but down 3.98% qoq.

Its consolidated core operating profit of Rs. 413.57 crore for the quarter, clocked growth of 52.75% yoy but decline of 3.86% qoq. Operating profit margin for the current quarter at 27% expanded by 690 bps yoy and 3 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 1,026.77 crore, growing by 5.04% yoy. Its consolidated revenue for the period stood at Rs. 5,851.46 crore, registering growth of 19.82% yoy.

Zee Entertainment Enterprises Ltd's core operating profit stood at Rs. 1,509.59 crore, recording growth of 20.41% yoy. Operating margin for the current period at 26.05% expanded by 38 bps yoy.

On standalone basis,Zee Entertainment Enterprises Ltd, reported standalone net profit of Rs.207.18 crore for the quarter ended March 31, 2016, registering growth of 18.9% yoy, but decline of 18.28% qoq. The company’s revenue stood at Rs. 1,082.21 crore, up 18.41% yoy but down 4.44% qoq.

Its standalone core operating profit of Rs. 304.39 crore for the quarter, clocked growth of 59.94% yoy but decline of 15.46% qoq. Operating profit margin for the current quarter at 28.13% expanded by 731 bps yoy but contracted by 367 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 859.34 crore, growing by 3.31% yoy. Its standalone revenue for the period stood at Rs. 4,206.50 crore, registering growth of 22.78% yoy.

Zee Entertainment Enterprises Ltd's core operating profit stood at Rs. 1,175.88 crore, recording growth of 12.56% yoy. Operating margin for the current period at 27.99% contracted by 250 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 1531.62 1522.13 0.62
Consolidated Net Profit 260.61 275.35 [5.35]

Bloomberg estimated the company’s consolidated net profit at Rs. 273.98 crore.

Stock Commentary:

Zee Entertainment Enterprises ended at Rs. 417.7, down by 3.15 points or 0.75% from its previous closing of Rs. 420.85 on the BSE.

The scrip opened at Rs. 423.9 and touched a high and low of Rs. 423.9 and Rs. 414.7 respectively. A total of 2457283(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 40418.43 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 440.3 on 21-Oct-2015 and a 52 week low of Rs. 299.65 on 15-May-2015. Last one week high and low of the scrip stood at Rs. 423 and Rs. 396.3 respectively.

The promoters holding in the company stood at 43.07 % while Institutions and Non-Institutions held 51.29 % and 5.64 % respectively.

The stock traded below its 200 DMA.


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