VIP Industries tumbles after poor Q3 outcome

VIP Industries tanked 9.31% to Rs 114 at 15:20 IST on BSE after net profit declined 15.84% to Rs 8.50 crore on 7.2% growth in total income from operations to Rs 253 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 29 January 2015.

Meanwhile, the BSE Sensex was up 126.61 points or 0.43% at 29,685.79.

On BSE, so far 5.20 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.

The stock hit a high of Rs 127.60 and a low of Rs 113 so far during the day. The stock had hit a 52-week high of Rs 129.60 on Wednesday, 28 January 2015. The stock had hit a 52-week low of Rs 55.50 on 4 February 2014.

The stock had outperformed the market over the past one month till 28 January 2015, advancing 12.99% compared with the Sensex's 8.51% rise. The scrip had, however, underperformed the market in past one quarter, surging 8.27% as against Sensex's 9.96% rise.

The small-cap company has equity capital of Rs 28.26 crore. Face value per share is Rs 2.

VIP Industries is Asia's No. 1 luggage manufacturer. Its four factories produce nearly five million pieces a year, making it the second largest producer of luggage in the world. VIP Industries already has a global footprint with its products available not just across India but also all over Middle East, the UK, USA, Germany, Spain, Italy and select African and South East Asian countries.

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