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.
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