Brands
Lessons in profit as Zee Learn makes the grade in December quarter
Education firm sharpens margins as costs cool and earnings stay on course.
MUMBAI: Report cards don’t usually come with punchlines, but Zee Learn Limited delivered one this quarter, posting a stronger showing for the three months ended December 31, 2025, as tighter costs and steadier operations helped lift profitability. For the December quarter, Zee Learn reported revenue from operations of Rs 45.67 crore, compared with Rs 44.35 crore in the same period last year. Including other income of Rs 1.48 crore, total income stood at Rs 47.16 crore, slightly lower than Rs 48.45 crore a year earlier due to reduced non-operating gains.
The real learning curve showed up below the line. Net profit for the quarter rose to Rs 4.20 crore, nearly doubling from Rs 2.16 crore in the corresponding quarter last year and sharply higher than the Rs 0.47 crore posted in the September 2025 quarter. Profit before tax came in at Rs 7.47 crore, reflecting a healthier operating mix.
Expenses during the quarter were kept in check at Rs 39.69 crore, down from Rs 45.72 crore a year ago. Employee benefit expenses stood at Rs 16.06 crore, while selling and marketing costs were Rs 6.79 crore. Finance costs, which had weighed heavily in earlier periods, showed a favourable swing, supporting margins.
For the nine months ended December 31, 2025, Zee Learn posted revenue from operations of Rs 158.66 crore, up from Rs 145.64 crore in the corresponding period last year. Total income for the nine-month period rose to Rs 164.72 crore, compared with Rs 155.17 crore a year earlier.
Net profit for the nine-month period stood at Rs 17.73 crore, an improvement over Rs 14.21 crore reported in the same period last year. Total comprehensive income for the period came in at Rs 17.84 crore, signalling steady momentum across the academic calendar.
For context, the company had reported a net profit of Rs 54.19 crore for the full year ended March 31, 2025, on total income of Rs 285.76 crore, setting a relatively high base for the current year.
With operations spanning formal education and allied services through subsidiaries including Liberium Global Resources, Digital Ventures and Academia Edificio, Zee Learn’s latest numbers suggest the company is quietly passing its financial exams, one quarter at a time.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
