By Tricitynews Reporter
Chandigarh 24th July:- Zee Learn Limited, India’s leading Education company and India’s Most Trusted Diversified Education Brand*, today reported its Standalone and Consolidated Q1 FY18 financial results. The company delivered healthy topline growth and improved its margins by leveraging its business model.
Commenting on the financial results, Debshankar Mukhopadhyay, CEO, Zee Learn Ltd, said that the quarter saw the economy gradually settling down as the process of demonetization moved towards completion. The company has shown consistent performance, riding on the positive sentiment in the economy. Building on the momentum that we generated over last few quarters, we have delivered revenues in line with our guidance.
He added that we are happy to report robust, all-round Q1 FY18 performance. We took a number of actions in the quarter towards upgrading our services, cognitive intelligence, delivering value and we are pleased to see that our disciplined focus on driving profitable growth has delivered the desired impact. The performance strengthens our confidence in the underlying growth potential of our brands and the ability of our business model to deliver it. We continue to expand the reach of our product offering to harness efficiency and gains. Going forward, we will continue to drive the strategic pillars of product innovation, value, customer experience, technology and cost efficiencies. There being no adverse impact of GST on Education Sector, we are totally geared up to be a part of the greatest tax reform-GST.
Consequent to notification by the Central Government on the Companies (Indian Accounting Standard) Rules, 2015 (Ind-AS) under Section 133 of the Companies Act, 2013, for the first time the Company has adopted the Ind-AS beginning from April 01, 2017. The Standalone and Consolidated financial results for the quarter ended June 30, 2017 are prepared in accordance with the Ind-AS and the comparative financial results for the quarter ended June 30, 2016 under the earlier Indian GAAP have been re-stated in accordance with Ind-AS.