Expect 10-12% higher bottomline in FY10: Zee Ent
July 17th, 2009
Zee Entertainment’s Q1 FY10 consolidated net profit declined to Rs 91.3 crore as against Rs 160.1 crore year-on-year and Rs 96.8 crore quarter-on-quarter. Its profit after tax is not comparable due to tax write backs of Rs 57 crore in Q1 last year. The company’s consolidated revenues slipped to Rs 475.9 crore as against Rs 542 crore YoY and Rs 513.7 crore QoQ. Advertising revenues for Q1 fell 30% YoY and 14% QoQ.
Speaking on the numbers, Punit Goenka, CEO, Zee Entertainment, said the company’s film business was affected by the multiplex strike. The company, he said, plans to deliver 10-12% higher bottomline in FY10.