Applect Learning Systems, which runs the e-learning site MeritNation has reported operating revenues of Rs 20.28 crore for the financial year ended March 31, 2014 (FY14), more than doubling from Rs 9.82 crore revenues in the previous year. The operating EBITDA loss also increased by 33% to Rs 28.53 crore for the year, up from Rs 21.43 crore loss in the previous year. However, note that the increase in loss is significantly lower in FY14 as compared to FY13 when it had reported a massive 293.9% increase in losses year-on-year. Info Edge currently owns a majority 55.81% stake in the Applect Learning Systems, having invested around Rs 71.5 crore into the company across five different rounds. This includes a Rs 10 crore investment in December last year, Rs 30 crore round in February 2013, Rs 20 crore round in September 2011, Rs 5 crore round in May 2010 and a Rs 6.5 crore round in July 2008. MeritNation caters to school students (Class 1-12) across various educational boards like CBSE, ICSE, Maharashtra state board (MSBSHSE), Karnataka state board (KSEEB), Tamil Nadu state board (Samacheer Kalvi), Kerala state board and others. It offers study material and mock tests for competitive exams like IIT JEE and NEET and free NCERT solutions, subject-wise synopsis and chapter-wise revision notes for classes 6-12. Last month, it had launched four new advanced study centres for Class 1-10 in Jaipur which offers learning spaces, mentors & a technology powered study program for students. It had also launched a new product called Meritnation Junior for students of class 1-5, which claims to offer questions from more…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...