Zee Q2 profit up 70%; Punit Goenka re-appointed MD for 5 years

Zee Entertainment beat Street estimates posting a 70% y-o-y growth in consolidated net profit at Rs 209 crore for the quarter ended September. Consolidated revenue for the quarter fell 18% y-o-y to Rs 2,001 crore in the reporting period, as advertising revenue remained weak during the quarter.

The company also re-appointed Punit Goenka as Zee’s MD& CEO for a period of five years till December 31, 2029.