VIP Industries shares spike post stellar Q2 earnings show

NEW DELHI: Shares of VIP Industries surged over 19 per cent after the company announced a 313 per cent jump in net profit for the quarter ending on September 30. The earnings announcement led the scrip to surge 19 per cent to hit an intra-day high of Rs 102.40 on BSE. The stock experienced an abnormal volume surge of up to 18.23 times during the day.

The company reported Q2 net profits of Rs 15.7 crore versus Rs 3.8 crore reported for the same period a year ago. Net sales stood at Rs 295 crore, up 35.3 per cent from Rs 218 crore in the same quarter previous year. The stock has gained over 30 per cent in the past month.