VST Industries declines ~3% after reporting lower Q2 profit at Rs79.88cr

Profit before Tax for the quarter at Rs107.4cr is highest in last 4 quarters, the company said.

October 22, 2021 10:54 IST | India Infoline News Service
Quarterly Results
VST Industries Limited reported a lower profit at Rs79.88cr in the second quarter ended September 30 of FY22 against Rs88.54cr in the same quarter of last fiscal. Revenue fell to Rs360.86cr in Q2FY22 from Rs394.88cr in Q2FY21.

The company saw a major sequential recovery momentum in the second quarter, which helped operating results to improve in the quarter ended September 2021, the company said in a filing on Thursday. Profit before Tax (PBT) stood at Rs107.4cr as of Q2FY22, as against PBT of Rs94.8cr recorded on the first quarter ended on June 30, 2021. PBT is highest in last 4 quarters.

The Earning per Share (EPS) is at Rs51.7 for the quarter ended September 30, 2021, as against the EPS of Rs57.34 recorded during the corresponding period a year ago. The EPS stood at Rs45 .6 for the Q1FY22 ended on June 30, 2021.

At around 10.58 am, VST Industries Ltd was trading at Rs3,447 per piece down by Rs102.2 or 2.88% from its previous closing of Rs3,549.20 per piece on the BSE.

“The operating performance got impacted due to challenging situation after the outbreak of second covid wave that led to sudden lockdown announcements in various States. As situation continues to improve and the economic activities are getting normalized rapidly and lockdown restrictions being lifted significantly, the forthcoming business quarters are expected to see improved operating performance,” company said.

“The strong sequential recovery indicates that the worst of the pandemic is behind us. Our mid-term growth plans look strong and we are confident that the result in the coming days will reflect the turnaround of the market post pandemiC matched by our new launches and geographical expansion,” said Aditya Deb Gooptu Managing Director, VST Industries Limited.

The Company, one of the leading cigarette companies, is actively working to fortify its brand equity, enhance pricing power and increase consumer stickiness. Among other major initiatives, the company has launched a new variant in end-August under the TOTAL Family called "Total ROYAL TWIST", a kesar and saunf variant. This launch has generated good response from consumers across markets.

Further, continuing on its objective to reach adult smokers across India by building distribution infrastructure, during the quarter the company made an initial foray into the State of Gujarat. These initiatives underline the emphasis of the Company to continuously strengthen its brand portfolio in terms of new launches while focusing on cost control to further strengthen its market performance.

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