VIP Industries rallies over 8%, hits 52-week high as Q4 net profit jumps three-fold

NEW DELHI: VIP Industries Ltd rallied as much as 8.2 per cent in trade on Wednesday to hit its fresh 52-week high of Rs 115.10, after the luggage carrier maker reported over three-fold increase in consolidated net profit at Rs 20.3 crore in the fourth quarter ended March 31, 2014 on the account of exceptional income.

At 10:15 a.m.; VIP Industries was trading 6.4 per cent higher at Rs 113.25. It hit a low of Rs 109 and a 52-week high of Rs 115.10 in trade today.

The company had reported net profit of Rs 6.4 crore in the same period a year ago, the company said in a BSE filing.

VIP Industries' net sales increased by 21.5 per cent in the quarter under review at Rs 226.6 crore compared with Rs 186.5 crore in corresponding period of previous year, PTI reported

During the quarter VIP reported exceptional income of Rs 15.9 crore. For the year 2013-14, VIP reported net profit of Rs 57.7 crore as against Rs 31.5 crore in year 2012-13, said the report.