VIP Industries, which had closed yesterday at Rs.386.10, opened with a huge positive gap at Rs.415, rising up further to hit a new 52-week high at Rs.459.20. Volumes are up by a jaw-dropping 23 times.

Buoyed by the overall positive moods of the market, the stock has reacted well to the company’s earnings for Q1FY22.

The company posted a consolidated net profit of Rs.2.53 crore v/s loss of Rs.51 crore (YoY) and this was on a total revenue of Rs.221 crore v/s Rs.58 crore. In Q4Fy21, the company had posted a loss of Rs.4 crore.

EBITDA came in at Rs.27 crore v/s loss of Rs.38 crore while margins improved from (-)65% to 12% (YoY) v/s 8% (QoQ). Gross Margin is 54% mainly due to lower discounts and better mix in favor of higher margin products and price increase.