BENGALURU: The Essel Group’s education company – Zee Learn reported a nominal net profit of Rs 0.403 crore during the nine month period (YTD) ended December 31, 2013 as compared to a loss of Rs (-13.87) crore during the corresponding nine month period of the last fiscal. Operating revenue during the nine month period ended December 31, 2013 was up 25.91 per cent to Rs 80.13 crore from Rs 63.65 crore for period ended December 31, 2012.
However, Zee Learn reported a loss of Rs (-3.38) crore during Q3-2014, albeit lower when compared to a loss of Rs (-8.01) crore in Q3-2013 and a profit of Rs 0.5353 crore in the immediate trailing quarter. The company reported operating revenue of Rs 22.7 crore which was 19.27 per cent lower than the Rs 28.12 crore in Q3-2013 and 5.05 per cent lower than the Rs 23.91 crore during Q2-2014.
Let us look at the other Q3-2013 figures reported by Zee Learn…
During the nine month period ended December 31, 2013, the company’s expense at Rs 77.27 crore was 3.59 per cent more than the Rs 74.59 crore during the corresponding period of last year. The company spent a whopping 70.78 per cent more towards purchase of education goods and television content during the nine month period of 2014 at Rs 27.29 crore as compared to the Rs 16.27 crore in the corresponding nine month period of last year.
Zee Learn reported 14.64 per cent lower total expense of Rs 24 crore for Q3-2014 as compared to the Rs 28.12 crore for Q3-2013 and 7.57 per cent more than the Rs 22.31 crore during the immediate trailing quarter. An increase in stock in trade brought down the total expense by Rs 3.5 crore during Q3-2014. The corresponding reduction brought to the total expense by increase in stock in trade during Q3-2013 and Q2-2014 was Rs 1.10 crore and Rs 0.95 crore respectively.
Zee Learn spent 26.63 per cent more towards purchase of education goods and television content in Q3-2013 at Rs 9.66 crore as compared to the Rs 7.63 crore in Q3-2013 and 65.05 per cent more than the Rs 5.85 crore in Q2-2014.
The company paid 37 per cent higher finance cost in Q3-2014 at Rs 2.13 crore as compared to the Rs 1.55 crore in Q3-2013 and 42.84 per cent more than the Rs 1.49 crore in Q2-2014. During the nine month period of the current year, Zee Learn paid 25.57 per cent more towards finance charges at Rs 5.17 crore as compared to the Rs 4.11 crore during the corresponding period of last fiscal.
