Navneet Education Q2 Review - Focus On Enhancing Digital Content Augurs Well: ICICI Direct
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ICICI Direct Report
Navneet Education Ltd. reported an improved performance for Q2 FY22 with revenues reaching 93% of pre-Covid-19 level.
Revenues grew 43% YoY to Rs 229 crore (Q1 FY22 Rs 318 crore, Q2 FY21: Rs 160 crore, Q2 FY20: Rs 247 crore).
Though Navneet Education's gross margin was lower by 21 basis points YoY to 52.4%, Ebitda margin improved 815 basis points YoY to 13.9% due to operating leverage.
Ebitda was higher by 3.5 times YoY to Rs 31.8 crore. Consequently, profit after tax increased by 8.9 times YoY to Rs 22.6 crore.
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