Vikas Lifecare reports a whopping 4254.14% yoy growth in Q3FY22 profit, revenue robust too; Stock ends at new high

11 Jan 2022 , 04:48 PM

Vikas Lifecare announced the financial results for the quarter and nine months ended December 31, 2021. In Q3FY22, the company’s net profit was at Rs288.11 Lakhs compared to Rs6.62 Lakhs in Q3FY21, higher by 4254.14% y0y.

The company’s net revenue rose by 1032% to Rs. 10,674.10 Lakhs in Q3FY22 compared to Rs. 942.95 Lakhs of Q3FY21. EBIDTA was at Rs. 424.60 lakhs in Q3FY22 compared to Rs. 125.79 lakhs in Q3FY21, higher by 237.55% yoy.

In Q3, the Company has filed a patent for “Recycling of Multi-Layered Plastics (MLP) and converting it to granules and products for societal applications”. Its company’s back-to-back patent earlier was for “An improved process of recycling of waste plastic for making pallets & interlock tiles for industrial application”.

Further, in terms of its long-term plan of strengthening its market share in the Agro-Products/FMCG division, during the quarter, the Company has acquired Cashew Nuts processing plant in Karnataka, India and made it operational. The unit already started contributing to the revenue and profits of the Company.

On Sensex, Vikas Lifecare finished at a new 52-week high of Rs5.68 per piece up by 4.99%.