Navneet Education gallops after stellar Q1 performance

3 Aug 2022 , 01:37 PM

Net sales soared 111.6% year on year to Rs 693.74 crore in the quarter ended 30 June 2022. Profit before tax surged to Rs 190.41 crore in Q1 FY23 as against Rs 46.99 crore posted in Q1 FY22. Total expenses increased by 81% year on year to Rs 512.36 crore in the quarter ended 30 June 2022. Cost of raw materials stood at Rs 237.92 crore, up 63.7% and employee benefits expenses were at Rs 54.45 crore, up 24.2% in Q1 FY23 over Q1 FY22. Consolidated EBITDA improved to Rs 207.39 crore in Q1 FY23 as compared to Rs 63.12 crore in Q1 FY22. The company said that NELs governance approach is based on accountability, effective delegation and adequate oversight to support sound decision-making. The board places high importance in overseeing the companys operation and ensures that NEL remains well-positioned to create long-term value for its shareholders. Navneet Education, formerly known as Navneet Publications (India), is in the business of educational, children and general books publication, scholastic paper and non-paper stationery products. Powered by Capital Market – Live News