Vaibhav Global Q2 net profits up 44.2% at Rs70.56cr

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.