VikasLifecare Ltd. Reports Q1FY23 Results, Net Profit up 680% YoY

VikasLifecareLimited  has reported a multifold jump in the net profit for the quarter ended June 30, 2022. 

According to an official communication from the company, the firm clocked a bottom line at Rs 2.59 crore in the first quarter of ongoing fiscal, a rise of about 680 per cent. The company had recorded a net profit of Rs 0.33 crore in the same quarter previous year.

The revenue from operations of the BSE listed firm jumped more than 280 per cent to Rs 92.17 crore in the June 2022 quarter, which was Rs 24.1 crore in the corresponding quarter a year ago. EBITDA of the company rose 73 per cent on a yearly basis to Rs 1.3 crore. 

However, it had reported a net profit of Rs 22.98 crore and a revenue of Rs 102.59 crore in the March 2022 quarter, as per official statement.

In another regulatory filing, the company clarified that there are no variations and deviations in utilization of proceeds from rights issue. The company had raised Rs 49.1 crore through rights issue on June 22, 2021.