Zee Entertainment shares fall over 5 pc

Shares of Zee Entertainment Enterprises Ltd on Friday plunged over five percent despite the company reporting a 6.73 percent rise in consolidated net profit for September 2019 quarter. The scrip declined 5.55 percent to close at Rs 250 apiece, on the BSE. During the day, it nosedived 9.38 percent at Rs 239.85 apiece.

On the NSE, it dropped 5.57 percent to settle at Rs 249.70 apiece. Zee Entertainment Enterprises Ltd (ZEEL) on Thursday reported a 6.73 percent rise in consolidated net profit at Rs 412.09 crore for September 2019 quarter, driven by strong performance in domestic broadcast and digital businesses.

The company had posted a net profit of Rs 386.10 crore in July-September quarter a year ago, ZEEL said in a BSE filing. The company's total income rose 7.63 percent at Rs 2,190.13 crore during the quarter under review as against Rs 2,034.79 crore in the corresponding quarter last year.