Luggage carrier maker VIP Industries recorded 103 per cent jump in net profits in the second quarter (Q2) of FY11 at Rs 11.4 crore as against Rs 5.6 crore in the same period a year ago.
The net sales of the company rose by 22.5 per cent from Rs 119.3-crore in Q2 of FY10 to Rs 146.2-crore for the same period this fiscal.
"The performance was driven by successful sales promotions which led to increase in value and volume sales during the monsoon season, usually considered a slow time for luggage sales," the company's Chairman Dilip G Piramal said.
The company plans to continue its brand building campaigns and new product launches into the Diwali season. It has re-launched its value brand ALFA and introduced a new product Boxer Strolly.
You’ve hit your limit of 5 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app