Top 5 Stocks with Biggest Expansion in Operating Profit Margin in Q1FY24
Indian stock market witnessed a blockbuster rally as both the Nifty 50 and BSE Sensex reached all-time highs, not once but thrice. The Nifty 50 traded near 19,300, while the Sensex surpassed 65,000 by the end of the month. This impressive performance was driven by strong inflows from foreign institutional investors (FIIs), robust corporate balance sheets, moderating inflation, and positive expectations for economic growth buoyed by anticipated normal monsoon conditions.
Since April 2023, the markets have rallied over 8% thanks to a stable macroeconomic outlook and favourable crude oil prices. However, in a momentum-driven market, some stocks without strong fundamentals may also experience a rise. In the first quarter of fiscal year 2024 (1QFY24), certain companies demonstrated exceptional financial performance, showcasing effective cost management, revenue growth, and operational efficiency.
These remarkable expansions in operating profit margin on both a year-on-year (YoY) and sequential basis indicate their potential for continued success. Here are the top 5 companies that delivered an outstanding performance for the first quarter of FY24. Leading the pack is United Spirits.
United Spirits is the largest spirits company in India and a flagship entity of the UB group. It manufactures a wide range of whisky, vodka, rum and other spirits. United Spirits is among the top three spirits companies in the world.
USL has a global footprint with exports to over 37 countries. In the June 2023 quarter, United Spirits witnessed a remarkable 136% YoY surge in operating profit margin, reaching 12.6% compared to 5.3% in the previous year. On a sequential basis, the company reported an astounding 189% rise in operating profit margin,
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