ZEE reappoints Punit Goenka as Managing Director & CEO
ZEE Entertainment Enterprises Limited has confirmed the re-appointment of Punit Goenka as Managing Director and CEO for a five-year term, extending his leadership until December 31, 2029. This announcement comes alongside ZEE’s strong financial performance for the quarter ended September 2024.
The company posted a remarkable 70% year-on-year (y-o-y) increase in consolidated net profit, reaching Rs 209 crore. However, consolidated revenue dipped by 18% y-o-y to Rs 2,001 crore, with a decline in advertising revenue cited as a key factor for the decrease.
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Despite this, ZEE’s financial results surpassed analyst predictions. Bloomberg had estimated ZEE’s net profit at Rs 141 crore and revenue at Rs 2,086 crore for the quarter. Following the results, ZEE’s shares rose by 5.29%, closing at Rs 132.40 on the BSE on Friday.
