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Zee Entertainment Enterprise Limited (ZEEL) has reported Rs 6,165 million as the Profit After Tax (PAT) for the financial year ended march 31, 2010. These were the first financial result after the company merged the Hindi General Entertainment channel 9X into it.

The consolidated operating revenue for the year was Rs 21,998 million and the consolidated operating profit (EBITDA) for the year stood at Rs 6,135 million. Profit before tax was at Rs6,738 million.

In the earning release ZEEL informs that the results are not comparable to the previous year as the numbers include the financials of regional general entertainment channels (R-GECs) acquired from Zee News Limited, 9X through a scheme of arrangement and ETC Networks Limited (ETC), a subsidiary of the Company was amalgamated with the Company.

Subhash Chandra, Chairman, stated, “Despite slowdown, FY2010 was a good year for the television media industry in many ways. While the economic slowdown did impact the growth in advertising revenues, some steps towards consolidation were good for the industry economics. Advertising on television media is hugely under priced in India, as are Pay-TV ARPUs. As an industry, we have to continue to work towards bringing corrections and I am hopeful of improvement in the coming years.”

Commenting on the decisions taken by the Board during the meeting, Chandra added “I am pleased to report that during the fiscal 2010, various affiliate companies have repaid loans and advances which were due this year. As a result, the Company has repaid most of its outstanding debt and now has net cash on the balance sheet. Given the strong financial position, the Board had earlier approved a special Interim dividend of Rs2 per share in April.”

In today’s meeting, the Board has recommended a final dividend of Rs 2 per share. The Board has also recommended issue of Bonus shares in the ratio of 1:1, subject to approval from shareholders.