VIP Industries reports 68% yoy growth in revenue for Q3FY22, stock gains 6%

2 Feb 2022 , 02:04 PM

VIP Industries Ltd. announced its quarterly results for the December 2021 quarter and has reported a satisfactory performance to the investors. Following the announcement, its stock gained 6.09% or Rs 36.70 in today’s trade and is currently trading at Rs 639 against its previous closing price of Rs 602.30.

So far, it has touched an intraday high and low of Rs 649 and Rs 618.25 respectively.

The company reported consolidated revenue of Rs 406.74 crore for Q3 FY’22 as against Rs 242.74 crore for Q3 FY’21, up by 67.56% YoY. While revenue for the 9M period ending December 2021 stood at Rs 964.14 crore, 136% on-year higher than the revenue for the previous 9M period at Rs 407.82 crore.

Its PAT for the quarter ended December 2021 stood at Rs 33.47 crore as compared to a net loss of Rs 7 crore for the previous corresponding quarter, recording a growth of 578% YoY. For 9M-period ended December 2021, PAT stood at Rs 54.54 crore against a loss of Rs 93.71 crore for 9M period ended December 2020, reflecting a gain of 148.25% YoY.

Its PAT margin for the quarter ended December 2021 stood at 7.12%, against -3.77% for the previous corresponding quarter. PAT margin for the current 9M period stood at 5.98%.