VIP Industries shares drooped more than 3% in morning trade after the company reported a disappointing performance for the third quarter ending December 31, 2024. As of 10:24 AM, the shares were trading 3.69% higher at Rs 352.75.
The company saw a significant decline in its financials, with a year-on-year (YoY) net loss of ₹12.4 crore, compared to a net profit of ₹7.2 crore in the same period of the previous fiscal year.
The company’s revenue from operations also took a hit, dropping by 8.3% to ₹501 crore from ₹546.4 crore in Q3 FY24. This dip in revenue reflects the ongoing challenges in the travel and luggage sector, as demand continues to fluctuate.
At the operating level, VIP Industries’ EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) plummeted 45.5%, standing at ₹28.5 crore compared to ₹52.3 crore in the previous year. The EBITDA margin also narrowed to 5.7% from 9.6% in Q3 FY24, signaling a decline in operational efficiency.
VIP Industries’ shares opened at 360.75, reaching a high of 364.00 and a low of 350.05 during the session. The stock’s 52-week high stands at 589.75, with the 52-week low matching today’s low of 350.05.
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