Education services player Zee Learn has posted a 50.6% rise in net profit for the first quarter ended June 30, 2016. The company posted net profit of Rs 8.01 crore for the first quarter of FY17 compared to Rs 3.95 crore posted in same quarter of FY16. The company reported Rs 7.76 crore profit in the fourth quarter of FY16.
Revenue from operations stood at Rs 42.06 crore for Q1 FY17 compared to Rs 35.79 crore in Q1 FY16. Operating EBITDA (Earnings before interest, taxes, depreciation and amortisation) stood at Rs 12.96 crore for the quarter compared to Rs 8.20 crore in the same quarter last fiscal.
“We continue to drive productivity and improve various operating levers even as we invest in growth of people, brands, processes and IP creation. During the quarter, we maintained strong cash flow generation with an increase in operating margins and launch of next generation businesses,” said Umesh Pradhan, chief financial officer, Zee Learn.
Zee Learn has recently announced the appointment ofDebshankar Mukhopadhyay as the chief executive officer of the company.
In June, Zee Learn had said that it has decided to put on hold the proposed merger of Tree House & Accessories with itself. This deal, announced in December 2015, was to make the combined entity the largest pre-school chain in India.
[Source:- Business Standard]
