Zee Entertainment Enterprises rose 4.01 percent to Rs.434.45 on BSE after the company's consolidated net profit rose 12.93 percent to Rs.260.61 crore on 12.39 percent growth in total income to Rs.1577.37 crore in Q4 March 2016 over Q4 March 2015. Zee Entertainment Enterprises advertising revenue rose 29.1 percent to Rs.864.50 crore in Q4 March 2016 over Q4 March 2015. Subscription revenue rose 16.4 percent to Rs.594.40 crore in Q4 March 2016 over Q4 March 2015. Earnings before interest, taxation, depreciation, and amortization (EBITDA) rose 52.8 percent to Rs.413.60 crore in Q4 March 2016 over Q4 March 2015. Zee's board of directors at its meeting has taken on record the conclusion of acquisition of 49 percent equity stake in Fly By Wire International (FBW). It may be recalled that Zee in March this year announced the acquisition of 100 percent equity stake in FBW which is engaged in aircraft charter services under an NSOP license from the director general of civil aviation (DGCA).

At that time, Zee said that it initially proposes to acquire 49 percent equity stake in FBW and the balance 51 percent equity stake shall be acquired within five days of receipt of approval from the ministry of civil aviation. The process is expected to be completed by mid-July 2016.


 

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