Revenue of the company was up 13 percent at Rs 1,725.3 crore versus Rs 1,528 crore.
Shares of Zee Entertainment Enterprises rose 1.5 percent intraday Friday despite weak set of numbers for the quarter ended March 2018.
The company's Q4 consolidated net profit declined 85 percent at Rs 230.6 crore against Rs 1,513.8 crore.
Revenue of the company was up 13 percent at Rs 1,725.3 crore versus Rs 1,528 crore. Operating profit or EBITDA was at Rs 506.2 crore.
The board of directors of the company recommended for approval of the equity shareholders, equity dividend of Rs 2.90 per equity share of Re 1 each for the Financial year 2017-18.
related news
Brokerage: CLSA | Rating: Buy | target: Rs 705
CLSA gas maintained buy rating on Zee Entertainment Enterprises and raised target price to Rs 705 from Rs 696 per share.
The company management highlighted that revival in ad revenues is sustaining and broad-based and CLSA expect company to deliver a 22 percent earnings CAGR over FY18-21.
Brokerage: BofAML | Rating: Buy | target: Rs 705
BofAML has maintained underperform rating on Zee Entertainment with a target of Rs 545.
According to BofAML, the tax was higher due to demerger and foreign subsidiaries paying dividend and management sees faster than industry growth rate which is 11-12 percent.
Also, management is looking to maintain 30% plus EBITDA margin going forward.
Brokerage: Morgan Stanley| Rating: Overweight | Target: Rs 610
Morgan Stanley has maintained overweight rating on Zee with a target of Rs 610.
The fourth quarter revenue growth & margin exceeded expectations and will monitor Zee5 performance to gauge growth potential, said Morgan Stanley.
At 11:10 hrs Zee Entertainment Enterprises was quoting at Rs 590.20, up Rs 1.20, or 0.20 percent.
Posted by Rakesh Patil