 "Tree House Education to merge with Zee Learn")
Zee Learn has surged 14% to Rs 34.10 on the BSE in early morning trade on back of heavy volumes after its net profit for the first quarter ended June 2016 (Q1FY17) more than doubled to Rs 8.02 crore. Essel Group Company engaged in education business had profit of Rs 3.96 crore in June 2015 quarter.
Revenue from operations grew 17.5% at Rs 42.06 crore during the quarter against Rs 35.79 crore in the corresponding quarter of previous fiscal.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margins of the company improved to 30.8% in Q1FY17 from 22.9% in Q1FY16 and 23.8% in Q4FY16.
The company said it delivered sterling first quarter performance giving better than expected profits, strongly improving operating margins and has steadily progressed against fiscal 2017 planned initiatives.
The trading volumes on the counter jumped more than four-fold with a combined 2.4 million equity shares changed hands on the BSE and NSE till 09:37 AM. The S&P BSE Sensex was down 0.47% at 27,075.
Revenue from operations grew 17.5% at Rs 42.06 crore during the quarter against Rs 35.79 crore in the corresponding quarter of previous fiscal.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margins of the company improved to 30.8% in Q1FY17 from 22.9% in Q1FY16 and 23.8% in Q4FY16.
The company said it delivered sterling first quarter performance giving better than expected profits, strongly improving operating margins and has steadily progressed against fiscal 2017 planned initiatives.
The trading volumes on the counter jumped more than four-fold with a combined 2.4 million equity shares changed hands on the BSE and NSE till 09:37 AM. The S&P BSE Sensex was down 0.47% at 27,075.
