55% Rally In 26 Wks; Vikas Lifecare Posts 211% Jump In Q2 PAT

Manufacturer of high-end speciality chemicals Vikas Lifecare has released its quarterly results for the July to September quarter. According to a regulatory statement by the firm, its consolidated net profit for the second quarter of FY24 was Rs 7.65 crore, up 211.32% from the Rs 2.45 crore recorded for the same quarter of FY23.

The net profit for the previous quarter or Q1FY23 was Rs. 11.69 crore. The firm recorded a consolidated total income of Rs. 122.74 crores for the quarter that ended on September 30, 2023, down from Rs. 133.04 crores for the quarter that ended on September 30, 2022, or 7.74% YoY.

During Q2FY24 its EPS stood at Rs 0.06 compared to Rs 0.02 in Q2FY23.

The firm recorded a total income of Rs. 233.25 crores for the six-month period that ended on September 30, 2023, up from Rs. 227.34 crores for the same period the previous year, representing a growth of 2.60% YoY. The firm declared a net profit of Rs 19.35 crore for the six months that ended on September 30, 2023, compared to Rs 5.19 crore for the six months that ended on September 30, 2022, representing a jump of 272.74%.

With a range of consumer products, including FMCG, agricultural, and infrastructure supplies, Vikas Lifecare recently entered the B2C sector. The trading and manufacturing of polymer, rubber compounds, and additives for plastics, synthetic rubber, and natural rubber comprise Vikas Lifecare's major corporate endeavours.

On Thursday, the shares of Vikas Lifecare were trading on the BSE at Rs 4.89 apiece. The scrip hit a 52-week-high of Rs 7.05 on (12/09/2023) and a 52-week-low of Rs 2.66 on (24/05/2023).