Zee Learn Limited reports total revenue of Rs 148.8 crore in Q2 FY20, consolidated PAT Zooms 73%
The Board of Directors at its meeting held Thursday has approved and taken on record the unaudited consolidated financial results of Zee Learn Limited (ZLL) and its subsidiaries for the quarter ended September 30, 2019. For Q2 FY20, ZLL, at a consolidated level, reported Total Revenue of Rs 148.8 Cr, EBITDA of Rs 51.9 Cr, PBT of Rs 32.8 Cr and PAT of Rs 24.4 Cr. The ZLL standalone EBITDA as a % of Operating Revenue increased from 46.6 % in Q2 FY19 to 59.3 % in Q2 FY20 in a superlative performance.
Commenting on the business performance, Mr Ajey Kumar, MD said, “We are happy to announce excellent results for Q2 FY20 even with the adverse macroeconomic environment. We continue to maintain leadership position in preschools and a fast paced growth in the K-12 domain by increasing our footprint into newer markets. As the Indian education industry goes through a churn driven by digital disruption, we are happy to report that parents are responding positively towards our tech interventions through Kidzee Tab and Kidzee App. Our investments in research and innovation, our deep domain and contextual knowledge, intellectual property and recognitions from relevant industry bodies are key influencers to our uninterrupted growth.”
Highlights of Consolidated Q2 FY20 financial performance over Q2 FY19:
Total Revenue at Rs 148.4 Cr - up by 11.7 %
EBITDA at Rs 51.8 Cr - up by 55.6 %
PBT at Rs 32.8 Cr - up by 61.4 %
PAT at Rs 24.4 Cr - up by 73.1 %
Highlights of Standalone Q2 FY20 financial performance over Q2 FY19:
Total Revenue at Rs 52.8 Cr - up by 23.4 %
EBITDA at Rs 28 Cr - up by 53.1 %
PBT at Rs 25 Cr - up by 49.2 %
PAT at Rs 19.3 Cr - up by 58.9 %
EBITDA as a % of Operating Revenue increases from 46.6 % in Q2 FY19 to 59.3 % in Q2 FY20
Commenting on the results, Mr. Debshankar Mukhopadhyay, CEO, said Zee Learn is in a unique position of being able to provide a plethora of educational offerings to fulfil the demands of the contemporary parent / student. Zee Learn’s focused student-centric approach through its various brands enables it to chart a differentiated and disciplined path to growth. With the use of technology in the form of Apps and Learning Management System, our teachers are more empowered thereby augmenting developmental outcomes for children. We remain focused on driving rigor in our operations, generating strong cash flows and profitability, while continuing to invest strongly for future growth. One of our key priorities going forward is to reduce our leverage significantly in the next few months from the internal cash flows and other strategic initiatives on our portfolio.”
Earlier in October, the Essel Promoters shared that they are planning to divest Zee Learn Ltd, which is India’s largest listed education company. The Essel Group Promoters shared in the investor call that they have recently been approached by some marquee investors, both strategic and financial, for the Zee Learn stake and they are considering their offers seriously.