Navneet Education lost 3.62% to Rs 165 at 10:47 IST on BSE after net profit fell 10.49% to Rs 16.63 crore on 6.27% growth in revenue from operations to Rs 183.35 crore in Q2 September 2017 over Q2 September 2016.
The result was announced after market hours yesterday, 8 November 2017.Meanwhile, the S&P BSE Sensex was up 108.87 points or 0.33% at 33,327.68.
On the BSE, 6,960 shares were traded on the counter so far against the average daily volumes of 5,234 shares in the past two weeks. The stock had hit a high of Rs 167.10 and a low of Rs 163.65 so far during the day.
Revenue from operations in Q2 September 2016 is inclusive of excise duty which is discontinued effective 1 July 2017 upon implementation of Goods and Services Tax (GST). For the purpose of comparability, revenue from operations excluding excise duty rose 6.64% year on year (YoY) in the current quarter (Q2 September 2017).
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.
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