Vakrangee falls 6% as profit tanks 96% YoY to 5 crore

Shares of Vakrangee plunged over 6 per cent in Friday’s early trade after the company released its quarterly numbers for April-June 2022.

The company's profit fell by 96 per cent year-on-year (YoY) to Rs 4.52 crore in the quarter ended June 2022 as against Rs 109.5 crore in the same period last year.

However, revenue from operations rose to Rs 226 crore in Q1FY23 from Rs 154 crore on a yearly basis.

Total expenses the quarter ended nearly doubled to Rs 221.3 crore from Rs 124 crore on a YoY basis. The total comprehensive income of the company as of June 2022 was at Rs 4 crore as against June 2021 of Rs 23.29 crore.

The scrip gave a negative 3-year return of 21.37 per cent as compared to a 38.2 per cent rise seen in the Nifty Smallcap 100. Promoters held 42.6 per cent stake and FIIs and DIIs held 8.13 and 6.36 per cent stake, respectively in the company as of 31 March 2022.

Vakrangee is a midcap company with a market cap of Rs 2,754.70 crore.