Navneet Education Ltd’s revenue grew by 21.9% qoq and 3.5% yoy to Rs212.6cr owing to revenue growth of stationery products. EBITDA came in at Rs23.8cr, up 16.2% qoq, however declined by 18.1% yoy. EBITDA margin contracted by 55bps qoq and 295bps yoy to 11.18% owing to higher other expenses. Company’s adjusted Net profit grew by 26.9% qoq to Rs15.1cr, however declined by 10.7% yoy. Revenue, EBITDA and PAT came lower than the expectation of Rs259.8cr, Rs41.5cr and Rs26.3cr respectively.
• Cost of goods sold stood at Rs103.4cr, up 29.1% qoq and 1.3% yoy.
• Other expenses grew by 28% qoq and 11.5% yoy to Rs56.8cr.
• Employee benefit expenses stood at Rs28.7cr, down 2.8% qoq and up 22.8% yoy.
• Revenue from stationery products grew by 4.3% qoq and 76.7% yoy to Rs157.8cr.
Navneet Education Ltd is currently trading at Rs. 138.65, down by 6.15 points or 4.25% from its previous closing of Rs. 144.80 on the BSE.
The scrip opened at Rs. 141.05 and has touched a high and low of Rs. 141.90 and Rs. 138.65 respectively. So far 7,629 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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