Kumar has been relieved from his duties effective from 18 June 2024.
Meanwhile, the company's board, based on the recommendation of the Nomination & Remuneration Committee and approval of the Audit Committee, has approved to promote Mukund Galgali as an acting CFO of the firm, with effect from 19 June 2024.
Galgali is a Chartered Accountant, and a Company Secretary, is an accomplished leader with over 27 years of Global Financial and Corporate leadership experience (including 17 years with Zee group). As a member of the leadership team, he has been providing strategic consulting advice on business planning and performance, regulatory and tax implications on business, process innovations and management controls etc. to improve business efficiency and value creation for shareholders, the company stated in the press release.
ZEEL is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.
The company reported net profit of Rs 12.18 crore in Q4 FY24 as compared with net loss of Rs 72.89 crore in Q4 FY23. Revenue from operations increased 2.7% to Rs 2,169.9 crore in Q4 FY24 as compared with Rs 2112.1 crore in Q4 FY23.