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VIP Industries slips 3% after Q4 earnings announcement

The company's profit decreased 28 per cent to Rs 25.3 crore while earnings before interest tax depreciation and amortization (EBITDA) slumped 27 per cent to Rs 39.6 crore

VIP Industries, which was set up in 1971, has four factories that together produce nearly five million pieces annually

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1 min read Last Updated : May 07 2019 | 3:09 PM IST

Shares of VIP Industries dipped over 3 per cent to Rs 430 in intra-day trade on the BSE after the company reported weak March quarter (FY19Q4) numbers during which profit slipped by 28 per cent despite a surge in revenue.

The company's profit decreased 28 per cent to Rs 25.3 crore while earnings before interest tax depreciation and amortization (EBITDA) slumped 27 per cent to Rs 39.6 crore depsite a 20 per cent rise at Rs 435 crore, according to the company's BSE filing.

The firm also reported a 590 bps dip in ebitda margin at 9.1 per cent.

At 3 PM, the stock of VIP Industries was down 2.88 per cent to Rs 430.35 as compared to a 0.69 per cent drop in S&P BSE Sensex which was trading at 38,335.