VIP Industries Q3FY21 consolidated Net Revenue at 56% of the Previous year at Rs 242.82 crore

VIP Industries Ltd. Asia's largest and the world's second largest luggage Company today announced its unaudited financial results for the quarter and nine-months ended December 31st, 2020.

Financial Results - Q3FY21 (YoY) Comparison

The company reported total income of Rs. 242.82 crores during the three months period ended December 31st, 2020 as compared to Rs. 107.88 crores during Q2FY21 and Rs. 432.34 crore in the same period last year.

The company posted a net loss of Rs. 7 crores for the three months period ended December 31st, 2020 as against net loss of Rs. 35.39 crores for Q2FY21 and net profit of Rs. 34.21 crores in Q3FY20.

Speaking on the occasion, Mr. Dilip Piramal, Chairman said "There are clear signs of recovery across categories. We are witnessing improvement in demand month-on-month and sequential quarters. With the appointment of Anindya Dutta as the new Managing Director earlier this month, we expect his vast experience in the retail space will help us to further expand the consumer franchise model, strategic business growth and operational efficiencies across verticals."

"Even the Union Budget presented on February 1st, will indirectly provide a boost to the luggage sector. The growth oriented budget will help to have more money in the wallet of retail consumers, which inline will enhance discretionary spending and travel amongst masses."

Shares of V.I.P.INDUSTRIES LTD. was last trading in BSE at Rs.363 as compared to the previous close of Rs. 351.35. The total number of shares traded during the day was 21753 in over 666 trades.

The stock hit an intraday high of Rs. 364 and intraday low of 352.1. The net turnover during the day was Rs. 7797736.

Source : Equity Bulls

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