This education company stock gave a return of 45 per cent in a month; do you have it?

Navneet Education Limited scrip hit its three-year high due to strong Q1FY23 numbers.

On August 22, shares of Navneet Education surged by approximately 6 per cent to Rs 134. On July 15 the stock was trading at Rs 94. The stock hits its 3-year high after posting strong Q1FY23 numbers. The scrip opened at Rs 129.55 and has touched a high and low of Rs 140.65 and Rs 126.75, respectively. The BSE group 'A' stock of face value of Rs 2 has touched a 52-week high of Rs 141.40 on August 18, 2022, and a 52-week low of Rs 81.20 on February 24, 2022.  

Navneet Education has reported over 3-fold jump in its net profit at Rs 149.72 crore for the quarter ended June 30, 2022, compared to Rs 44.54 crore for the same quarter in the previous year. The total income of the company increased by 2-fold to Rs 687.52 crore for Q1FY23 as compared to Rs 325.17 crore for the corresponding quarter previous year. 

On a consolidated basis, the company has reported an over 4-fold jump in its net profit at Rs 138.56 crore for the quarter ended June 30, 2022, as compared to Rs 32.12 crore for the same quarter in the previous year. The total income of the company increased by 2-fold to Rs 697.97 crore for Q1FY23 compared to Rs 334.56 crore for the corresponding quarter previous year. 

For Q1FY23, Navneet Education reported a standalone profit after tax (PAT) of Rs 149.72 crore against Rs 44.54 crore in Q1FY22. The company surpassed its entire PAT of the previous fiscal (FY22) of Rs 146.62 crore in the first quarter of the current fiscal (FY23). Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved to 31 per cent from 22 per cent. 

The educational syllabus-based provider Navneet Education provides top-notch information in print and digital formats. The company has more than 60 years of experience as an educational publisher and stationery maker, and it has a strong market position in the field of scholastic stationery and educational material. In Western India, the firm holds a market share of over 65 per cent. In the future, the company intends to evolve by rapidly changing trends and seeks to establish a significant position in the EdTech market by utilising its current companies.