On Wednesday, Zee Entertainment Enterprise Ltd declared a consolidated net profit of Rs 118.10 crore for the first quarter ended June 30, 2024.

Zee Entertainment Enterprise Ltd (ZEEL) posted a net loss of Rs 53.42 crore in the April-June quarter last year, according to a regulatory filing.

The company's overall income increased by 7.56 percent to Rs 2,149.52 crore during the quarter under review. It stood at Rs 1,998.26 crore in the same period.

ZEEL's total costs were Rs 1,941.12 crore, up slightly from the June quarter of FY25.

On Wednesday, shares of Zee Entertainment Enterprise Ltd were trading at Rs 147.60 on the BSE, up 1.72 percent from the previous close. "EBITDA increased 75.3 percent YoY to Rs 271.7 crore (PLe Rs 246.1 crore, CE Rs 222.4 crore) with a margin 12.8 percent (PLe 11.6 percent) aided by fall in employee benefit expenses amid the ongoing restructuring exercise and reduction in ZEE5's losses," according to Prabhudas Lilladher (PL).

"We currently have a 'Hold' rating on Zee with a target price of Rs 160," it stated.