ASX shares are lower on Tuesday, with the S&P/ASX All Ordinaries Index (ASX: XAO) down 0.18%.
With earnings season now over, we reveal nine ASX shares that delivered some of the best profit boosts.
You can review all our articles covering the earning reports of hundreds of ASX companies here.
9 ASX shares that revealed major profit increases
Here is a selection of ASX companies that reported some of the biggest profit growth of the season.
NIB Holdings Limited (ASX: NHF)
In its FY24 report, the health insurer revealed a net profit after tax (NPAT) of $181.6 million, up 67.4%. This failed to impress investors, with the NIB share price diving 17.74% on the day the report was released.
Inghams Group Ltd (ASX: ING)
The poultry producer revealed an NPAT of $101.5 million, up 68% in its FY24 results. This also received a rough reception from investors, with the ASX consumer staples share tumbling 20.16% on the day.
Macquarie Technology Group Ltd (ASX: MAQ)
In its FY24 results, Macquarie Tech reported an NPAT of $33 million, up 86.5%. On the day of the release, the ASX technology share fell by 5.98%.
Nuix Ltd (ASX: NXL)
In its FY24 results, the company reported a statutory net profit of $5 million, up more than 100% year over year. The Nuix share price rocketed 25.5% on the day of the news.
QBE Insurance Group Ltd (ASX: QBE)
In its half-year results, QBE reported an NPAT of US$802 million, which was 100% higher than last year. But investors were unenthused. The QBE share price fell 1.71% on the day of the report.
Latitude Group Holdings Ltd (ASX: LFS)
Latitude also reported half-year results last month. It revealed a cash NPAT of $27.4 million, up 140% on the prior corresponding period. The ASX financial share lost 1.71% in value on the day of the news.
McMillan Shakespeare Ltd (ASX: MMS)
The company reported a statutory net profit spike of 158.5% to $83.5 million. But that wasn't enough to keep investors happy. The McMillan Shakespeare share price lost 3.77% in value on the day of the news.
RPM Automotive Group Ltd (ASX: RPM)
In its FY24 results, the auto parts company revealed a 275% leap in net profit to $4.6 million, which was a record for them. Investors rewarded RPM Global with a 14.29% share price bump.
Bailador Technology Investments Ltd (ASX: BTI)
The technology-focused investment company reported an impressive 282% surge in NPAT in FY24 to $20.7 million. Enthusiastic investors pushed the Bailador Technology share price 2.56% higher on the day.
