Vaibhav Global Q2 net profits up 44.2% at Rs70.56cr
Vaibhav Global reported growth of 23.41% in top line sales for the Sep-20 quarter at Rs598.79cr. The operating profits for the quarter ended Sep-20 was up 48.90% at Rs87.48cr while net profits were up 44.15% at Rs70.56cr due to sharply higher sales and lower costs.
This had an overall impact on the margins of Vaibhav Global. For the Sep-20 quarter, the operating profit margins or OPM was improved by 250 basis points at 14.61% on the back of favorable growth in sales revenues and costs under check. The net profit margins or NPM for the quarter was also higher by 170 basis points at 11.78%.
Financial highlights for Sep-20 compared yoy and sequentially
| Rs in Crore | Sep-20 | Sep-19 | YOY | Jun-20 | QOQ |
|---|---|---|---|---|---|
| Revenues | 598.79 | 485.19 | 23.41% | 550.44 | 8.78% |
| Operating Profit | 87.48 | 58.75 | 48.90% | 63.58 | 37.59% |
| Net Profits | 70.56 | 48.95 | 44.15% | 52.88 | 33.43% |
| Diluted EPS (Rs) | 21.33 | 14.97 | 16.16 | ||
| OPM | 14.61% | 12.11% | 11.55% | ||
| Net Margins | 11.78% | 10.09% | 9.61% |
Key takeaways from the Sep-20 quarter results
- There had bene a marginal impact of the lockdown on the top line of Vaibhav Global but the company has brought its sales and profits back to the pre-COVID levels and even done better than that.