VIP Industries rose 3.32% to Rs 607.95 after the company reported consolidated net profit of Rs 12.39 crore in Q4 FY22 compared with net loss of Rs 3.78 crore in Q4 FY21.
Net sales stood at Rs 355.90 crore for the quarter ended 31 March 2022 as against Rs 243 crore during the same period in the previous year, registering a growth of 46.5%.
The company posted a pre-tax profit of Rs 16.04 crore in the fourth quarter as against a pre-tax loss of Rs 5.72 crore registered in Q4 FY21.
During the quarter, cost of goods consumed surged 96.48% to Rs 208.86 crore while employee benefit expense climbed 44.63% to Rs 55.64 crore.
Finance costs declined by 26.03% to Rs 5.37 crore while depreciation & amortization expenses declined by 5.35% to Rs 17 crore in the fourth quarter compared with the corresponding quarter last year.
For the year, the company reported a 168.7% increase in net profit to Rs 66.93 crore on a 108.5% rise in net sales to Rs 1,289.51 crore in FY22 over FY21.
VIP Industries is the leading manufacturer of hard and soft luggage in Asia.
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