Profit rises sharply, but lender claims raise serious business continuity risk
ZEELEARN · price
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The Board approved Q2 results. Operating revenue rose 24% to Rs 48.72 crore and profit after tax jumped to Rs 4.98 crore from Rs 0.47 crore. Half-year revenue rose 21% to Rs 136.60 crore and profit rose 58% to Rs 21.41 crore, but operations used Rs 1.52 crore of cash. The auditor qualified the review over Rs 819.87 crore of lender claims and unassessed amounts due, citing a risk to business continuity and a pending insolvency case.
Profit growth helps, but the qualified review, insolvency case and Rs 819.87 crore lender claim create major downside for shareholders.