Zee Learn COO Himanshu Yagnik resigns; shares end 1% lower

Zee Learn Ltd sharesclosed 1% lower on Monday, September 9, after the company announced that one of its senior management personnel has resigned.

In a stock exchange notification, issued after the market hours on Friday, Zee Learn said that it has received a letter from its chief operating officer (COO) Himanshu Yagnik, tendering his resignation from his position of senior management.

The company informed that Yagnik’s last working day would be September 6, 2024, as per the policies of the company.

The reason for his resignation from the position of chief operating officer is due to his willingness to pursue his interests outside the organization, Zee Learn added in his notification.

Reacting to the announcement, shares of Zee Learn gained 2% on Monday to trade at ₹8.36 on the NSE. The stock is up 22% year-to-date and has surged 86% in the past one year.

The company’s 14th Annual General Meeting (AGM) will be held at 3 pm on Thursday, September 26, 2024, through video conferencing and other audio visual means, the company informed the bourses in a separate filing last week.

Zee Learn is India’s leading company in the education segment with the fastest growing chain of K-12 schools and preschools. The company operates schools under the name Mount Litera Zee School and Kidzee, one of India's largest preschool chains.

For the June 2024 quarter, the company’s consolidated net sales stood at ₹80.33 crore, down 24% from ₹105.6 crore in the year-ago quarter. Net profit, meanwhile, stood at ₹3.6 crore in Q1 FY25, down 57% from ₹8.5 crore in the June 2023 quarter.