Q3 profit up 18.5%; VBL plans Kenya unit and expansion into new businesses
VBL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Q3 results approved: group revenue rose 2.3% year on year to Rs 5,047.74 crore; profit after tax rose 18.5% to Rs 745.19 crore. Estimated margin before financing, tax and depreciation was 25.6% of revenue versus 23.8%. Nine-month revenue rose 7.4% to Rs 17,890.79 crore; profit after tax rose 14.9% to Rs 2,802.04 crore. Earnings per share was Rs 2.19. VBL plans a Kenya unit and seeks shareholder approval for foods, renewable power and alcohol.
Profit growth and margin expansion are positive for investors. New businesses offer growth scope, but Kenya execution and approvals remain pending.