It may feel like the end of the year is fast approaching, but the financial year is only just getting started.
Unlike the calendar year, the financial year ends on 30 June.
So, as we turn a new leaf in October, we've just closed the chapter on the first quarter of FY23.
Across these three months, the S&P/ASX 200 Index (ASX: XJO) staged a comeback before being bogged down again by concerns about rising interest rates.
The benchmark index started the new financial year on a strong footing, climbing by as much as 8.5% by mid-August.
However, investors' fortunes turned in September, leading to the ASX 200 registering a 1.4% fall in the first quarter of FY23.
While some ASX 200 shares struggled, others shrugged off the market weakness to punch higher.
With that in mind, let's take a look at the five best-performing ASX 200 shares in the first quarter of the new financial year.
Pilbara Minerals Ltd (ASX: PLS)
Topping the ASX 200 tables in 1Q23 was none other than ASX lithium share Pilbara. Its share price nearly doubled across the quarter, rocketing by 99% to finish at $4.56.
ASX lithium shares have been on a tear this year, reaching levels of hype we perhaps haven't seen since the days of ASX buy now, pay later shares.
Key events from the quarter include Pilbara's appointment of a new managing director, its full-year FY22 report, and results from its regular battery minerals exchange (BMX) auctions.
Notably, Pilbara delivered a maiden $560 million profit in FY22 as revenue skyrocketed by 577% to $1.2 billion.
Whitehaven Coal Ltd (ASX: WHC)
ASX coal miner Whitehaven took out second place, surging by 86.2% across the quarter to finish at $9.01.
The global energy crisis has led to a renaissance in coal prices this year.
According to Business Insider, coal prices were sitting at around US$120 per tonne at the beginning of the year. Fast forward 10 months and these prices are above US$300/tonne as Russia's invasion of Ukraine has thrown energy markets into turmoil.
There hasn't been much news from Whitehaven recently aside from its FY22 report. The company delivered a bumper set of results as revenue soared 216% to $4.9 billion while its net loss from the prior year turned into a profit of nearly $2 billion.
New Hope Corporation Limited (ASX: NHC)
Fellow ASX coal miner New Hope rounded out the podium finishes, producing an 81.8% gain across the quarter to finish at $6.29.
New Hope operates on a slightly different financial calendar than the rest of the ASX, releasing its FY22 results a couple of weeks ago.
These results were headlined by a 143% upswing in revenue, which hit $2.6 billion, and a more than 12-fold increase in profit, which landed at $983 million. A monster dividend also set investors' tongues wagging.
The company produced 7.9 million tonnes of saleable coal in FY22, a reduction of around 18% compared to the prior year. But sky-high coal prices more than made up for this reduced supply.
New Hope's average realised prices surged from $101.36/tonne in FY21 to $281.84/tonne in FY22. Its average realised price in the fourth quarter came in at a stunning $493.52/tonne.
Sayona Mining Ltd (ASX: SYA)
The next cab off the rank is Sayona Mining, which saw its shares fly 60% across the three months to 24 cents.
This impressive performance was enough to bed down a place in the ASX 200 index, with Sayona joining the ranks in the recent September rebalance.
Across the quarter, Sayona released updates on its planned restart of lithium production at the North American Lithium (NAL) operation in Quebec. In September, the company confirmed plans were on track with 94% of procurement completed, 95% of required permits received, and construction ramping up.
On the last day of September, Sayona also released its full-year results, turning a $4.4 million loss in FY21 to an $83.7 million profit in FY22.
The company ended the financial year with total lithium reserves of 41.3 million tonnes at a grade of 1.05%, up from 12.1 million tonnes at 1.00% in the prior year.
Lovisa Holdings Ltd (ASX: LOV)
Last but not least, jewellery retailer Lovisa continued its lofty ascent, climbing 54% across the quarter to finish at $21.27.
Lovisa's FY22 report in August was a highlight, sending shares racing higher as results came in ahead of the market's expectations.
The ASX retail share achieved revenue of $459 million, up 56% from the prior year, while net profit more than doubled to $60 million.
Operating a vertically-integrated business model, Lovisa boasts extremely high gross margins for a retailer, which sat at 78.9% in FY22.
Lovisa's global rollout continued at pace, opening a further net 85 stores during FY22 to take its total store network to 629 stores across 24 countries.
