Net sales stood at Rs 355.90 crore for the quarter ended 31 March 2022 as against Rs 243 crore during the same period in the previous year, registering a growth of 46.5%.

The company posted a pre-tax profit of Rs 16.04 crore in the fourth quarter as against a pre-tax loss of Rs 5.72 crore registered in Q4 FY21.

During the quarter, cost of goods consumed surged 96.48% to Rs 208.86 crore while employee benefit expense climbed 44.63% to Rs 55.64 crore.

Finance costs declined by 26.03% to Rs 5.37 crore while depreciation & amortization expenses declined by 5.35% to Rs 17 crore in the fourth quarter compared with the corresponding quarter last year.

For the year, the company reported a 168.7% increase in net profit to Rs 66.93 crore on a 108.5% rise in net sales to Rs 1,289.51 crore in FY22 over FY21.

VIP Industries is the leading manufacturer of hard and soft luggage in Asia.