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Zee Entertainment reports marginal rise in its FY11 net profit

24 Jun 2011 Evaluate

Zee Entertainment Enterprises has announced the results for the year ended March 31, 2011.

The company has posted a net profit after tax of Rs 576.42 crore for the year ended March 31, 2011, up by 3.15% as compared to Rs 558.84 crore in the last year. Total Income has increased by 61.33% to Rs 2234.25 crore for the year from Rs 1384.92 crore in last year.

On consolidated basis, the Group has posted a net profit after tax of Rs 625.13 crore for the year, up by 1.39% as compared to Rs 616.56 crore in the last year, up by 20.39%. Total Income has increased by 33.46% to Rs 3098.69 crore from Rs 2321.79 crore for the year ended March 31, 2010.

Zee Entertainment Enterprises consequent to approval of  Bombay High Court, the Scheme of Amalgamation of ZES Holdings and Zee Multimedia Worldwide with the company from appointed date of February 01, 2011, coming into effect on June 20, 2011, the scheme has been given effect as per AS 14 ‘Pooling of interest method”. Resultant difference between value of investments in merged entities and net assets transferred to the company amounting to Rs 20,762 lakh is adjusted against General Reserve in standalone financial statement.

Previous year figures have been classified / regrouped wherever necessary, and are not comparable in view of events stated above.

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