Zee Learn - Promoter still living in Day Dream

Zee Learn Q2 FY21 numbers released on 18th December (after a delay of over 1 month) is seen giving two different pictures. Consolidated Q2 numbers, as presented with Auditors Review Report, definitely gives a disappointing picture on these numbers. But company press release says “Sequential QoQ Consolidated PBT in Q2 FY21 up by 37%”, which is nothing but a statement of mischief and misguiding the investors.

Q2 numbers, practically of all the companies, on QoQ are seen better. But here, income on QoQ is lower at Rs. 76.26 cr, against Rs. 82.67 cr. Other income is higher at Rs. 13.40 cr. against Rs. 9.96 cr. with PAT seen lower at Rs. 2.24 cr. against Rs. 3.36 cr. Even operational cost rose to Rs. 18.70 cr. against Rs. 9.85 cr. Only PBT was higher at Rs. 7.43 cr against Rs. 5.44 cr, which was picked up in isolation and presented with big bang heading.

Zee group, promoter of the company, runs a Hindi Business Channel as well, who will highlight these as good numbers, eventually to trap retail and gullible investors, who as such are fond of buying penny stocks, while this share is ruling at Rs. 14.

It reminds us of one group, who was 3rd richest in India, a decade back, seen releasing press releases of all its listed companies (about 7-8 companies) with big bang, while reality was totally opposite, with lenders to this group now are struggling to recover about Rs. 1.50 lakh crore. Chief promoter of this group said that he owes Rs. 500 crore to his Mother and Rs. 310 crore to his Son.

Why do some broke promoters fail in accepting that they are broke and are liability now. Also, why Business Channels owned by few Industrialists keep trapping the gullible  retail investors, whenever their interst need to get protetced?