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Net sales (excluding excise duty) rose marginally to Rs 348.10 crore from Rs 343.39 crore posted in the same period last year.
Sequentially, the company's net profit declined 9.26% while net sales grew by 4.49% in Q2 FY24 over Q1 FY24.
Profit before tax stood at Rs 99.12 crore in Q2 FY24, registering a decline of 16.5% from Rs 118.76 crore recorded in Q2 FY23.
Total expense added 8.07% year on year to Rs 382.41 crore during the quarter. Cost of material consumed was at Rs 198.60 crore (up 7.83% YoY) while employee benefit expenses stood at Rs 32.06 crore (up 10.25% YoY) during the period under review.
VST Industries manufactures and distributes cigarettes and tobacco products.
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