Shares of VIP Industries Ltd. dropped to a 52-week low on Thursday after the luggage manufacturer's consolidated net profit declined 16% in the first quarter.
The profit fell to Rs 57.8 crore in the June quarter compared to Rs 69.1 crore in the same period last fiscal, according to an exchange filing on Wednesday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
VIP Industries Q1 FY24 Highlights (Consolidated, YoY)
Revenue was up 8% at Rs 636.1 crore.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Ebitda down 21% at Rs 80.6 crore.
Ebitda margin at 12.7% vs. 17.4%
Net profit down 16% at Rs 57.8 crore.
Shares of VIP Industries fell as much as 7.03% intra-day to Rs 548.95 apiece, the lowest since July 28, 2022. It pared losses to trade 0.05% lower at Rs 590.15 per share, compared to a 1.13% decline in the benchmark NSE Nifty 50 at 2:19 p.m.
The stock has declined 9.67% year to date. The total traded volume stood at 11.7 times its 30-day average. The relative strength index was 44.98.
All 12 analysts tracking VIP Industries maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 37.7%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
