 "VIP Industries zooms 20% on four-fold jump in Q2 net profit")
VIP Industries has locked in upper circuit of 20% at Rs 103 on the BSE after reported four-fold jump in net profit at Rs 15.7 crore for the quarter ended September 30, 2015 (Q2), on back of strong net sales.
The company engaged in the luggage business had profit of Rs 3.8 crore in a year ago quarter.
Net sales during the quarter under review increased by 35% to Rs 296 crore against Rs 219 crore in the corresponding quarter of previous fiscal.
Earnings before interest, tax, depreciation and amortization (EBITDA) margins improved 345 basis points to 8.52% from 5.07% in a year ago quarter.
The trading volumes on the counter more the doubled with a combined 9.51 million shares changed hands on the BSE and NSE. At 01:23 pm, there were pending buy orders for 1.75 million shares on both the exchanges.
The company engaged in the luggage business had profit of Rs 3.8 crore in a year ago quarter.
Net sales during the quarter under review increased by 35% to Rs 296 crore against Rs 219 crore in the corresponding quarter of previous fiscal.
Earnings before interest, tax, depreciation and amortization (EBITDA) margins improved 345 basis points to 8.52% from 5.07% in a year ago quarter.
The trading volumes on the counter more the doubled with a combined 9.51 million shares changed hands on the BSE and NSE. At 01:23 pm, there were pending buy orders for 1.75 million shares on both the exchanges.