VIP Industries Ltd posts Q4 net loss of Rs 27 crore

Luggage and accessories maker VIP Industries Ltd reported a net loss of Rs 27 crore ($3.1 million) for the fourth quarter ended March 31, as against net loss of Rs 24 crore in the year-ago period.

The company’s revenue for the quarter declined by 4 percent to Rs 494 crore, as against Rs 516 crore in the corresponding quarter of the previous fiscal year.

For the full financial year, VIP Industries Ltd reported a net loss of Rs 69 crore on a sales revenue of Rs 2,178 crore.

The company’s total expenses during the quarter witnessed a 3 percent year-on-year decline to Rs 535 crore.

Founded in 197, VIP Industries Ltd offers products under brands such as VIP, Skybags, Carlton, Aristocrat, and Caprese.