Zee News Ltd (ZNL) has reported a consolidated net profit of Rs 370.8 million in the fourth quarter ended March 31, 2008, up 396 per cent as against Rs 74.7 million in the corresponding period of 2007. At a meeting held on June 17, 2008, the Board of Directors of ZNL also recommended a 40 per cent dividend payout for the year.
ZNL’s consolidated net sales and income from operations increased by 53 per cent from Rs 2,405.1 million in 2007 to Rs 3,675.1 million in 2008.
Commenting on the results, LN Goel, Managing Director, Zee, said, “FY08 has seen excellent growth in revenues and profitability due to our focussed business approach for each channel. Considering the outstanding performance of the company during the year 2007-08, the Board has recommended a dividend of 40 per cent.”
Barun Das, CEO, Zee, added, “The coming years hold a lot of promise and the company is confident of delivering long term shareholder value. Expansion in related areas of business is also on the anvil, and we are positive of continuing delivering superior returns going forward.”
Meanwhile, the ZNL Board also decided to convene the annual general meeting of the company to approve the audited financials on July 23, 2008.