Vesuvius India tumbled 4.98% to Rs 980 after the company's net profit declined 19.1% to Rs 13.14 crore despite a 10.2% rise in net sales to Rs 257.33 crore in Q4 December 2021 over Q4 December 2020.
Total expenditure during the quarter increased by 14% YoY to Rs 238.76 crore, due to higher raw material costs (up 26.7% YoY), higher employee expenses (up 57.9% YoY) and higher other expenses (up 23.6% YoY).
Profit before tax in Q4 December 2021 stood at Rs 17.74 crore, down by 20.1% from Rs 22.19 crore in Q4 December 2020.
Current tax outgo fell by 25.7% to Rs 5.15 crore in the fourth quarter as compared to the same period last year.
The company recorded 28.3% increase in net profit to Rs 68.05 crore on a 32.4% rise in net sales to Rs 1,042.16 crore in the year ended 31 December 2021 as compared to the year ended 31 December 2020.
Vesuvius India is a world leader in the design, engineering, manufacture and delivery of refractory products, systems and services for high-technology industrial applications.
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