Stock in focus: This company bought stake in startup Bullet, will launch India's first micro-drama app, keep an eye on the stock

News Topical, Digital Desk : Stock in focus: Zee Entertainment Enterprises Limited has announced a strategic partnership with startup Bullet. Under this, it will launch India's first micro-drama app. Under this partnership, Zee Entertainment will buy a stake in Bullet, although the value of this stake and the amount invested have not been disclosed.

Micro-dramas are small, short video stories that are creator-driven and specifically designed for the mobile-first viewing habits of young audiences.

What is the plan? The Bullet app will be launched under the Zee5 ecosystem, helping it reach a wider audience. The content will be available in multiple languages ​​to ensure maximum reach across India. The acquisition is in line with Zee Entertainment's strategy, which dreams of transforming the company into a content and technology powerhouse. Company performance Talking about business performance, Zee Entertainment reported a net profit of ₹ 188.4 crore in the fourth quarter, which is significantly higher than the previous net profit of ₹ 13.4 crore in the same period. The company's earnings grew 0.6% to ₹ 2,184 crore in the March quarter, which is higher than the previous business net profit of ₹ 2,170 crore. The company's EBITDA grew 42% to ₹298 crores from ₹210 crores in the same quarter last year. Zee Entertainment's margins also increased from 9.7% to 13.6%. Shares of Zee Entertainment rose 0.58% to close at ₹127.32 per share in the last trading session, and the stock has seen a growth of 8.7% in the last one month.

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