The Shares of Tree House Education and Accessories Ltd plunged and being hammered daily after posting the worst result for the financial year 2016.The revenue from operation was 209 cr.The Profit after tax dropped to the levels of 6.78 crs which was last year 60.88cr. The management has talked about the reason behind this performance as below:
Morgan Stanley the famous investment bank has dumped about 2 lakh shares of tree house yesterday.Tree house business and zee learn business were about to be merged.But after the current result zee learn will rethink about the merger.
The company has said that they are taking the following steps to recover the company in its financial statement.
The shares of Tree House closed at 59.50 yesterday.A few days back this was trading at 78 levels.Although the management is blaming the drought as the reason for their week performance, serious issues might be there in their company.