ZEEL declared a total net profit of Rs 13.35 crore for the March quarter. In Q4/FY24, its consolidated total income increased by 3% to Rs 2,185.29 crore.
On Tuesday, Zee Entertainment Enterprises experienced yet another high-level departure with the resignation of Rohit Kumar Gupta, the company’s chief financial officer. According to a regulatory filing from ZEEL, Mukund Galgali has been promoted to the position of acting Chief Financial Officer of the firm.
Galgali, who has been with the company for more than 17 years and is currently in charge of its commercial and strategic initiatives, has been promoted, the company announced. The move was authorized by the board.
The change would take effect on June 19, 2024.
Top-level resignations from the media and entertainment company ZEEL have recently occurred.
Animesh Kumar, who worked at ZEEL HR & Transformation, left the company last week in order to pursue interests outside of the company.
Punit Misra, the company’s president of international markets and content, resigned in April.
Rahul Johri, who oversaw revenue and monetization as well as served as President of Business, departed earlier this year in March after serving in that capacity for more than three years.
Nitin Mittal, the group chief technology officer and president of Zee Entertainment, also quit in March.
Through a variety of channels, such as private placement, qualified institution placement (QIP), preferential issuance, or a mix of approaches, the company is able to raise up to Rs 2,000 crore from the market.
ZEEL declared a total net profit of Rs 13.35 crore for the March quarter. In Q4/FY24, its consolidated total income increased by 3% to Rs 2,185.29 crore.
A merger between Zee and Sony Pictures Network India was previously announced, with the potential to establish a USD 10.5 billion media company in the nation.
But the Sony Group called off the merger in January, and as a result, both parties are currently bogged down in court cases and arbitration proceedings.
Operations and business have been disrupted by intense and protracted merger-related activity; as a result, the company has now taken a number of gradual initiatives to safeguard all stakeholders and increase its intrinsic value throughout this phase.
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