Zee Telefilms net up by over 160%

Fueled by expansion in its business ventures, Zee Telefilms announced that its net profit has gone up by 160% to Rs 3.33 billion. Zee's net profit for the last year was Rs 1.28 billion. But despite of the rise in the net profit the Zee board has decided to shrink the size of its ADR issue which is brought down to a meager $200 million as against the $1.5 billion issue which was decided earlier.

The main reason for this is the fall in the stock prices. Also the company will be directing the funds created by the ADR to content creation and not convergence as was decided earlier.

Last year saw a spate in activities in Zee Telefilms with the company going all out by starting four regional channels and two English channels. Also the company went all out with its Internet ventures by launching its portal zeenext.com and also starting an ISP. Zee also acquired a 100% stake in Zee Multimedia Worldwide.







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