Zee News Q4 net profit dips 43%; Stock loses 6%

Zee NewsSubhash Chandra promoted firm Zee News has registered 42.67 per cent drop in its consolidated net profit for the fourth quarter ended March 31

The company posted net profit worth Rs 8.76 crore against Rs 15.28 crore in the same quarter ended March, 2008.

However, the company’s has cloaked total income worth Rs 138.44 crore during the quarter under review, as against Rs 113.07 crore in the same quarter last fiscal.

For the year ended March 31, the company has posted a consolidated net profit of Rs 44.66 crore, up 20.47 per cent from Rs 37.07 crore in the same period previous fiscal.

The company posted earnings of Rs 0.36 a share during the quarter, registering 43.75% decline over previous year period.

The stock closed the day at Rs 35.60, down Rs 2.55 or 6 %. The stock hit an intraday high of Rs 39 and low of Rs 35.