Go Fashion Shares Jump Over 11% To Three-Month High After Q1 Profit Rises
Go Fashion's net profit rose 9% on the year to Rs 29 crore in the quarter ended June on account of rise in revenue and operating profit.
Shares of Go Fashion (India) Ltd. jumped over 11% to their highest level in three months after its profit rose in the first quarter.
The company's net profit rose 9% on the year to Rs 29 crore in the quarter ended June 2024, according to an exchange filing. The rise in net profit was due to rise in revenue and operating profit.
Go Fashion Q1 Results: Key Highlights (YoY)
Revenue up 16% at Rs 220 crore.
Ebitda up 12.4% at Rs 72 crore
Ebitda margin at 32.7% versus 33.7%
Net profit up 9% at Rs 29 crore.
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Shares of Go Fashion (India) jumped 11.53% to Rs 1,179.90, the highest level since April 24. It pared gains to trade 7.93% higher at Rs 1,140 as of 12:13 p.m., compared to 0.43% decline in the NSE Nifty 50 index.
The stock declined 3.74% in last 12 months, and 8.94% on year to date basis. Total traded volume so far in the day stood at 4.1 times its 30-day average. The relative strength index was at 68.20.
Out of eight analysts tracking the company, seven maintain a 'buy' rating, and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 7.9%.
