Zee Learn spurts on strong Q1 earnings

NEW DELHI: Shares of Zee Learn closed 8.39 per cent higher on Friday after the company said its June quarter profit more than doubled to Rs 8.02 crore. The company, engaged in the education business, had reported Rs 3.96 crore profit for the corresponding quarter last year.

Following the upbeat numbers, the stock rose 14.42 per cent to hit a high of Rs 33.15 on BSE.

The company said its revenue from operations grew 17.5 per cent to Rs 42.06 crore for the quarter compared with Rs 35.79 crore in the corresponding quarter last year.

"During the quarter, we maintained strong cash flow generation with an increase in operating profit margins and launch of next gen businesses,”said Umesh Pradhan, CFO at Zee Learn.

The Ebitda ( earnings before interest, taxes, depreciation and amortization) margins of the company improved to 30.8 per cent in the June quarter from 22.9 per cent in the March quarter and 23.8 per cent in the year-ago quarter.

The company this week announced that it had appointed Debshankar Mukhopadhyay as their new Chief Executive Officer (CEO) . Mukhopadhyay earlier served Manipal Global Education Services as the Head of Educational Sales-Financial Services & Insurance.