Navneet Education Limited on August 3 reported a net profit of Rs 144.94 crore for the April-June quarter, a 4.84 percent YoY (year-on-year) decline from Rs 152.32 crore reported in Q1FY23.
Revenue from operations for the quarter grew 14.04 percent YoY at Rs 791.45 crore compared to Rs 693.74 crore in Q1FY23.
EBITDA (earnings-before-interest-taxes-depreciation and ammortisation) margins were down by 357 basis points from 30.82 percent in Q1FY23 to 27.25 percent in the quarter under review.
The stock which was up 52 percent since May 11, fell sharply after the announcement of the quarterly results. At 3.30 pm market close, Navneet Education stock stood at Rs 148.30, down 7.08 percent or Rs 11.30 on the NSE.
Nearly 30 lakh shares changed hands at both exchanges against a monthly average of 7 lakh shares.
Navneet Education Limited is engaged in the business of publishing and distribution of educational content and stationery products. The company caters to students from primary to higher education levels, offering textbooks, workbooks, and supplementary study materials.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
