Shares of
Zee Entertainment ended lower on the BSE in an otherwise strong market. The stock ended at Rs190.70, marginally down by Rs0.9 or 0.47% from its previous closing of Rs191.60 on the BSE.
The company posted a net profit for Mar-21 turned around to Rs272.36cr against a loss of Rs-765cr. The huge losses in the Mar-20 quarter were largely on account of provisions for impairment of goodwill in the previous quarter.
In the Mar-20 quarter, Zee also booked Rs279cr loss on loss in fair value of financial instruments. Also, finance costs were sharply lower on a yoy basis. Net margins at 13.73% were lower than 14.44% in the sequential Dec-20 quarter.
On a yoy basis, Zee saw an increase in subscription and advertisement revenues. However, in the Dec-20 quarter, Zee had earned Rs585cr from the sale of other products and services, which led to the huge fall in top line over sequential quarter.