Zee Entertainment Enterprises has reported a 2.8 percent rise in consolidated net profits during the third quarter of financial year to Rs 193.3 crore on a quarterly basis.

On the other hand, the company reported a fall of 1.5 percent to Rs 938.8 crore compared to Rs 953.5 crore recorded earlier. The figures were higher than expected as the analysts were expecting a net profit of Rs 175 crore and revenue of Rs 918 crore during the quarter.

The company's Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 19.7 per cent to Rs 261 crore in October-December quarter compared to Rs 222 crore on a quarterly basis. Its EBITDA margin increased 490 basis points on a quarter to quarter basis compared to an estimate of 24.2 percent.

Zee Entertainment's advertisement revenue recorded a growth of 28.8 percent to Rs 509.4 crore during the quarter. Its subscription revenue has increased 25.6 percent to Rs 409.8 crore from the same period of the previous year while domestic subscription revenue was recorded at Rs 296.1 crore during the quarter.

The shares of the company increased 2.2 percent to Rs 227.50 on Bombay Stock Exchange (BSE).