Visaka Industries reports 265% jump in PBT in Q3; To pay interim dividend of 50%

Despite the positive results, the company was trading 2.56% lower at Rs411 apiece on the BSE at around 1:25 PM.

Jan 29, 2021 01:01 IST India Infoline News Service

Visaka Industries
Visaka Industries Limited has announced the results for the third quarter ending on December 31, 2020. 

October – December 2020 (Third Quarter)

Total revenue from operations (net) for the quarter was Rs28,287.18 Lakh, showing an increase of 16% as compared to the corresponding quarter of 2019. Total Revenue for Nine Month period ending 31 December 2020 stood at Rs79,822.58 Lakhs. PBT for the quarter was Rs3,113.11 Lakh as compared to Rs851.97 Lakh showing an increase of 265%.

PBT for the Nine Month period ending 31 December 2020 stood at Rs10,718.89 Lakh compared to Rs4,956.56 lakhs for the corresponding Nine Month period in 2019 showing an increase of 116%.

Net Profit for the quarter after tax was Rs2304.32 Lakh as compared to Rs614.92 Lakh in the corresponding quarter of 2019 showing an increase of 275%. Net Profit for the Nine Month period ending 31 December 2020 stood at Rs7,976.64 Lakh compared to Rs4,243.79 lakhs for the corresponding Nine Month period in 2019 showing an increase of 88%.

Performance Highlights

The company, one of the leading Building material solution provider, has posted highest ever profits during the nine months period ended 31-12-2020. The Building Products business segment led the Company’s strong quarterly performance. Building Products had reported Segment Revenue of Rs23,577.80 Lakh as compared to Rs18,848.60 Lakh in the corresponding quarter of 2019 and the segment Profit Before Tax stood at Rs3,902.19 Lakh.

G.Vamsi Krishna, Joint Managing Director said, the company has worked in a focussed manner to overcome the challenges posed by Covid 19 pandemic. The good performance is possible due to strong rural l markets, gradual opening of Urban market, easy of supply chains. Digital marketing initiatives of the company have also shown a positive impact.

Taking note of the stellar performance shown by the company, the board of Directors of the company have approved to pay first interim dividend of 50% i.e., Rs. 5/- per share on equity of share of Rs10 each fully paid-up for the current financial year 2020–21, the company added. The said interim dividend will be paid to those members whose name appear in the register of members of the company as on 9 th February 2021 being the record date fixed for the purpose.

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