Zee Entertainment Shares Surge 5% on Strong Q2 Earnings

New Delhi, Oct 18 (PTI) Shares of Zee Entertainment Enterprises Ltd (ZEEL) on Friday surged more than 5 per cent after the firm reported a 70.24 per cent jump in consolidated net profit in the September quarter.

The stock jumped 5.29 per cent to settle at Rs 132.40 apiece on the BSE. During the day, it soared 6.60 per cent to Rs 134.05.

On the NSE, shares of the firm surged 3.76 per cent to Rs 130.50 each.

ZEEL on Friday reported a 70.24 per cent jump in consolidated net profit at Rs 209.4 crore in the September 2024 quarter as margins improved by effective cost management.

It had logged a net profit of Rs 123 crore in July-September FY24, according to a regulatory filing from ZEEL.

However, total income declined 18.93 per cent from Rs 2,509.6 crore to Rs 2,034.4 crore.

The profitability increased due to effective cost management, according to an earnings presentation from ZEEL.

"Prudent cost discipline and focused execution has enabled us to clock 630 basis points improvement in EBITDA margins in a challenging macro environment," it said.