Zeel's Q3 net up by 74%

Zee Entertainment Enterprises Limited's third quarter consolidated net profit has gone up by 74 per cent.

According to the media reports, Subhash Chandra-promoted Zee Entertainment Enterprises Limited has raked in revenue but is yet to recover from the market weakness.

For the three-month period to December, Zee Entertainment Enterprises Limited's net profit surged to Rs 1.46 billion, up from Rs 840 million a year ago, mainly due to a tax write back of Rs 313 million.

Reports suggest that the company is also acquring Taj Television for $44.145 million. The company will acquire fresh 45 per cent stake in Taj TV Limited Mauritius, which operates Ten Sports, to take its total holding to 95 per cent while Bukhatir Group will keep the other five per cent.