Q1-2016: Despite 4% drop in revenue, Zee Learn PAT up 11%

BENGALURU: The Essel Group’s education company Zee Learn Limited reported 11.1 per cent higher profit after tax (PAT) for the quarter ended 30 June, 2015 (Q1-2016) at Rs 3.96 crore (11.1 per cent margin) as compared to the Rs 3.56 crore (9.6 per cent margin) in Q1-2015. PAT in the current quarter was also 3.8 per cent higher than the Rs 3.81 crore (9.2 per cent margin) in the immediate trailing quarter.

Zee Learn’s Total Income from Operations (TIO) in the current quarter at Rs 35.79 crore was four per cent lower than the Rs 37.30 crore in the corresponding year ago quarter and 14.1 per cent lower than the Rs 41.69 crore in Q4-2015.

Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore

Let us look at the other numbers reported by Zee Learn

Zee Learn’s Total expenditure (TE) in Q1-2016 at Rs 29.14 crore (81.4 per cent of TIO) was 6.5 per cent lower than the Rs 31.17 crore (83.6 per cent of TIO) in Q1-2015 and 19.5 per cent lower than the Rs 36.18 crore (86.8 per cent of TIO) in Q4-2015. 

The company’s marketing, advertisement and publicity expense (marketing expense) for Q1-2016 at Rs 4.68 crore (13.1 per cent of TIO) was 89.3 per cent (almost double) more than the Rs 2.47 crore (6.6 per cent of TIO) in Q1-2015, but 45.6 per cent lower (almost half) than the  Rs 8.6 crore (20.6 per cent of IO) in Q4-2015.

Employee Benefit Expense (EBE) Q1-2016 at Rs 6.17 crore (17.2 per cent of TIO) was 8.3 per cent lower than the Rs 6.73 crore (18 per cent of TIO) in Q1-2015 but 17.2 per cent more than the Rs 6.05 crore (14.5 per cent of TIO) in the immediate trailing quarter. 

In Q1-2016, Zee Learn’s operating cost at Rs 0.56 crore (1.6 percent of TIO) was 18 percent lower than  the Rs 0.68 crore (1.8 per cent of TIO) in Q1-2015 and 55.7 per cent lower (less than half) the Rs 1.25 crore (three per cent of TIO) in Q4-2015. 

Other expense in Q1-2016 at Rs 7.69 crore (21.5 per cent of TIO) was 28.7 per cent higher than the Rs 5.98 crore (16 per cent of TIO) in Q1-2015 and 3.8 per cent more than the Rs 7.41 crore (17.8 per cent of TIO) in the immediate trailing quarter.

Zee Learn says that on 28 June, 2015 a fire occurred in one of the warehouses of the company at Bhiwandi near Mumbai and the inventory of educational material lying at the said warehouse amounting to Rs 1416.61 lakh got completely destroyed. Further, Zee Learn says that it has lodged a claim with the insurance company for the loss incurred. Pending the settlement of insurance claim, the loss is accounted as ‘Claims Receivables’ under other current assets to the extent of the above amount. On settlement of the claim by the Insurance company, the difference in loss claim and actual claim received, if any, will be charged to the statement of profit and loss account.

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