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Zee Entertainment Enterprises Swings to Loss in Fiscal Q4; Shares Plummet 6%

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Zee Entertainment Enterprises (NSE:ZEEL, BOM:505537) swung to loss in the fiscal fourth quarter ended March 31 with an attributable consolidated net loss of 1.02 billion Indian rupees against a net profit of 1.88 billion rupees a year ago, according to a Tuesday filing to the Indian stock exchanges.

Shares of the media company plunged 6% in Wednesday's trade.

Loss per share came in at 1.08 rupees compared with earnings per share of 1.96 rupees a year earlier.

Total income in fiscal Q4 slipped year on year to 21.0 billion rupees from 22.2 billion rupees a year earlier.

The board of directors recommended a dividend of 2 rupees per share for the financial year ended March 31.

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