Q1 Results impact: Navneet Education, RPG Life Sciences, MOIL among others surge up to 20%
Individually, Navneet Education shares gained 20 per cent and touched a new 52-week high of Rs 126.55 per share, followed by MOIL shares up over 12 per cent to Rs 178.5 per share.
Q1 Results impact: Shares of Navneet Education, RPG Life Sciences, MOIL, Paradeep Phosphates, and Bosch zoomed up to 20 per cent on the BSE intraday during Wednesday’s trading session on the back of strong June-quarter earnings in the financial year 2022-23.
Individually, Navneet Education shares gained 20 per cent and touched a new 52-week high of Rs 126.55 per share, followed by MOIL shares up over 12 per cent to Rs 178.5 per share. RPG Life Sciences shares surged over 15 per cent to Rs 707.6 per share on the BSE intraday.
Similarly, Bosch and the newly listed Paradeep Phosphates' share price jumped around 3 per cent each to Rs 18,300 and Rs 51.7 per share, respectively, on the BSE intraday.
Meanwhile, Siemens India shares slumped over 3 per cent during Wednesday’s trade despite strong June-quarter results.
In Q1FY23, Navneet Education’s profit surged over four times to Rs 139.4 crore as against Rs 32.1 crore year-on-year, while revenue saw a two-fold surge to Rs 693.7 crore from Rs 327.9 crore YoY.
While MOIL reported over a 66 per cent jump in profit to Rs 102.8 crore in the June quarter of FY23 as against Rs 61.8 crore YoY, revenue was up 28 per cent to Rs 375.6 crore from Rs 293.3 crore YoY. The company’s margin soared to 39.4 per cent from 28.6 per cent YoY.
For RPG Life Sciences, the company’s profit surged over 34 per cent and revenue over 19 per cent YoY, while its margins mainly remained flat at 21.6 from 21.2 per cent YoY.
Bosch’s net revenue grew 45 per cent YoY, growth in revenue could also be attributed to the easing of supply chain bottlenecks at the end of 1QFY23, Motilal Oswal said. The company’s net profit gained over 28 per cent, while margins came nearly flat at 12.7 per cent during the June quarter.
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