Navneet Education announced that it has allotted 1000 units of commercial paper (CP) of Rs 5 lakh each, aggregating to Rs 50 crore.
The company issued CP at Rs 4,90,505.5 each at a yield of 7.85% p.a. for a tenure of 90 days, to be redeemed on 25 May 2023. The instrument is listed on the NSE.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.
The company reported 39.4% decline in consolidated net profit to Rs 30.67 crore despite of 13.3% rise in net sales to Rs 264.27 crore in Q3 FY23 over Q3 FY22.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
