Vaibhav Global Q4 net profit down by 52% at Rs 17.57 cr

Vaibhav Global Ltd today reported 52 per cent decline in its consolidated net profit at Rs 17.57 crore for the quarter ended March 31.
Its net profit stood at Rs 36.76 crore in the year-ago period.
Total income also fell to Rs 358.05 crore in Q4 FY15 as compared to Rs 365.42 crore in the corresponding period of previous year, the company said in a statement.
Vaibhav Global is a global retailer of fashion and lifestyle accessories on TV home shopping and e-Commerce platforms.
The company's revenues rose by 6 per cent to Rs 1,376 crore during FY15. Profit after tax was lower at Rs 103 crore from Rs 153 crore in FY14. The profit was impacted by lower forex gains and higher tax provisions, it said.

"During the year, we made some key investments to further strengthen our operations that we believe will cement our position as a global retailer of high repute. We outsourced the call center operation which has helped improve efficiencies," company's CMD Sunil Agrawal said.
"Free cash flow of Rs 106 crore was generated in FY15, which enabled us to become a zero net debt company. We continue to upgrade our customer initiatives and the next significant opportunity comes from the launch of our mobile app for the US market planned in the coming months," he added.