VIP Industries Q3 Net down 16 per cent to Rs 8.5 crore

VIP Industries today reported 15.84 per cent decline in standalone net profit at Rs 8.5 crore for the quarter ended December due to higher expenses.
The company had reported a net profit of Rs 10.1 crore in the corresponding quarter of the previous year, it said in a BSE filing.
Its net sales increased 7.27 per cent during the quarter under review to Rs 252.1 crore as against Rs 235 crore in the corresponding period a year ago.
Overall expenses of the company rose by 11.70 per cent to Rs 247.1 crore as against Rs 221.2 crore a year ago.

Meanwhile, the Board of Directors of the company has declared an interim dividend of Rs 2 per share for the current fiscal.
Shares of VIP Industries were trading 7.12 per cent down at Rs 116.75 apiece during afternoon session on the BSE.

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Snowman Logistics Q3 Net jumps 156 per cent to Rs 5.84 crore * Logistics company Snowman today reported 156 per cent jump in its net profit at Rs 5.84 crore for the quarter ended December 2014.
The company, which was listed on the stock exchanges in September 2014, had reported a net profit of Rs 2.29 crore in the previous quarter.

"For the quarter ended December 2014, sales increased by 6 per cent to Rs 51.30 crore and EBITDA increased by 15 per cent to Rs 11.42 crore as compared to the previous quarter.
"PAT increased by 156 per cent to Rs 5.84 crore from Rs 2.29 crore over the previous quarter," the company said in a statement.
"The company is on track to achieve its expansion objectives. There is a tremendous demand for cold chain in India and only a very small part of this market is currently being catered by organised players," its chairman Gopinath Pillai said.