Veritas India slips 2% post disappointing Q3FY22 numbers

18 Feb 2022 , 02:18 PM

Veritas India trades in the lower circuit throughout the day as investors are disgruntled over its poor financial performance for the quarter and nine months ended December 2021. Its stock was trading 2% lower at Rs150.20 against its previous closing price of Rs153.25 on BSE. It stuck to the same bracket with little or marginal changes in today’s trade.

Veritas posted a consolidated profit of Rs17.8 crore during the quarter ended December 2021, which was 40% yoy lower than the profit of Rs29.50 crore reported in the previous corresponding quarter.

However, its revenue grew in single-digit 9% growth over the previous corresponding quarter at Rs459 crore for Q3FY22, and Rs420.69 crore in Q3FY21.

Whereas, it reported a jump of whopping 383% yoy in its standalone profit at Rs5.12 crore for the quarter ended December 2021 against Rs1.06 crore for the previous corresponding quarter. Its standalone sales plunged by 6.24% yoy at Rs69.74 crore in Q3FY22.

Total income for the quarter stood at Rs460.44 crore as compared to Rs421.42 crore for Q3FY21, up by 9.26% yoy.