Vakrangee Q4 earnings: Net profit rises 221%; shares in focus on Friday
Vakrangee Q4 earnings: Profit rose to Rs 2.19 crore in Q4 FY2023-24 against Rs 0.68 crore on a YoY basis. EBITDA climbed 49.3% to Rs 8.32 crore in Q4 FY2023-24, on a YoY basis.
- May 9, 2024,
- Updated May 9, 2024 5:23 PM IST
Vakrangee reported a 221% rise in profit after tax for the March 2024 quarter on Thursday. Profit rose to Rs 2.19 crore in Q4 FY2023-24 against Rs 0.68 crore on a YoY basis. EBITDA climbed 49.3% to Rs 8.32 crore in Q4 FY2023-24, on a YoY basis. Total income climbed 5.4% to Rs 54.60 crore in Q4 FY2023-24 on a YoY basis against Rs 51.79 crore.
Cash profit rose 48.6% to Rs 6.04 crore in Q4 FY2023-24 on a YoY basis.
In FY24, total income climbed 8.2% to Rs 214.92 crore in FY2023-24 on YoY basis. EBITDA climbed 45.7% to Rs 28.72 crore in FY2023-24 on YoY basis. Net profit rose 333.1% to Rs 2.19 crore in FY2023-24 on a YoY basis.
The earnings were announced after market hours on Thursday. Shares of Vakrangee ended 0.73% higher at Rs 25.33 on BSE. A total of 20.72 lakh shares of the technology company changed hands, amounting to a turnover of Rs 5.22 crore on BSE. Market cap of the firm stood at Rs 2683.75 crore.
Additionally, the firm said it has completed the acquisition of 8.8% equity share capital of Vortex Engineering Private Limited from the International Finance Corporation (IFC). The company is in process for acquisition of another 85% equity share capital of Vortex Engineering from other shareholders of the company and post-acquisition the total shareholding will increase to 93%.
The company has allotted the 6,00,00,000 Convertible Warrants (Warrants), at an issue price of Rs 27/- per Warrant for an aggregate amount of up to Rs. 162 crore.
Vakrangee reported a 221% rise in profit after tax for the March 2024 quarter on Thursday. Profit rose to Rs 2.19 crore in Q4 FY2023-24 against Rs 0.68 crore on a YoY basis. EBITDA climbed 49.3% to Rs 8.32 crore in Q4 FY2023-24, on a YoY basis. Total income climbed 5.4% to Rs 54.60 crore in Q4 FY2023-24 on a YoY basis against Rs 51.79 crore.
Cash profit rose 48.6% to Rs 6.04 crore in Q4 FY2023-24 on a YoY basis.
In FY24, total income climbed 8.2% to Rs 214.92 crore in FY2023-24 on YoY basis. EBITDA climbed 45.7% to Rs 28.72 crore in FY2023-24 on YoY basis. Net profit rose 333.1% to Rs 2.19 crore in FY2023-24 on a YoY basis.
The earnings were announced after market hours on Thursday. Shares of Vakrangee ended 0.73% higher at Rs 25.33 on BSE. A total of 20.72 lakh shares of the technology company changed hands, amounting to a turnover of Rs 5.22 crore on BSE. Market cap of the firm stood at Rs 2683.75 crore.
Additionally, the firm said it has completed the acquisition of 8.8% equity share capital of Vortex Engineering Private Limited from the International Finance Corporation (IFC). The company is in process for acquisition of another 85% equity share capital of Vortex Engineering from other shareholders of the company and post-acquisition the total shareholding will increase to 93%.
The company has allotted the 6,00,00,000 Convertible Warrants (Warrants), at an issue price of Rs 27/- per Warrant for an aggregate amount of up to Rs. 162 crore.