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MUMBAI:
Zee Entertainment Enterprises Ltd (Zeel) lost 11.09 per cent
on Thursday, a day after the broadcasting company reported
a 26 per cent fall in third-quarter profit.
Zeel
scrip closed Thursday at Rs 97.85 on the BSE, down from its
previous close of Rs 110.05.
On
21 January, Zeel announced a consolidated net profit of Rs
840 million for the quarter ended 31 December 2008, as against
Rs 1.13 billion in the prior year period, down by 26 per cent
on the back of a slow advertising growth.
Commenting
on the results, Zeel chairman Subhash Chandra had said, "The
entertainment and media industry is seeing the impact of the
overall downturn in the global economy. We are in the midst
of a downward trend in advertisement revenues.”
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