VIP Industries Q3 net rises 33% at Rs 11 crore

Company's net sales increased by 15.14% during the quarter under review to Rs 290.5 crore

VIP Industries today reported a 32.94% increase in its net profit at Rs 11.3 crore for the quarter ended December 31, 2015.

The company had reported a net profit of Rs 8.5 crore in the corresponding quarter of the previous year.

Its net sales increased by 15.14% during the quarter under review to Rs 290.5 crore as against Rs 252.3 crore in the corresponding period a year ago, VIP Industries said in a BSE filing.

Overall expenses of the company rose by 11.32% to Rs 275.3 crore as against Rs 247.3 crore a year ago.

Meanwhile, the Board of Directors of the company have declared an interim dividend of 60 paise per equity share of Rs 2 each for FY 2015-16.

Shares of VIP Industries were trading 1.39% higher at Rs 101.95 apiece during afternoon session on the BSE.