Shares of VST Industries declined around 2 percent on October 18 after the company's net profit for the second quarter of FY24 slumped 17.6 percent on-year.
As of 10:45am, the VST Industries stock was trading at Rs 3,319.90 on the NSE, representing a 1.90 percent fall.
The Hyderabad-based cigarette manufacturer reported a 17.6 percent on-year decline in net profit of Rs 75.95 crore, with tepid growth in topline and lower pre-tax profit and other incomes. Revenue from operations for the quarter increased 2.86 percent on a year-on-year basis to Rs 452.3 crore.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) was down 16.1 percent YoY to Rs 78 crore in Q2FY24, compared to Rs 92 crore a yea back. On a year-on-year basis, margins came in at 17.2 percent in the quarter ending September FY24 from 21 percent.
VST Industries is engaged, among other activities, in the manufacture and trading of cigarettes, tobacco, and tobacco products.
In Q1FY24, VST Industries reported a net profit of Rs 84 crore, down 3.9 percent YoY. Revenue for the quarter ended June FY2024 increased by 9.7 percent on a year-on-year basis to Rs 441 crore, while EBITDA margins came in at 23.9 percent, compared to 28 percent YoY.
Follow our live blog for all market action
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
