Vaibhav Global Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 30, 2023 at 02:21 pm EDT
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Vaibhav Global Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 7,049.99 million compared to INR 6,462.57 million a year ago. Revenue was INR 7,084.2 million compared to INR 6,484.62 million a year ago. Net income was INR 293.65 million compared to INR 229.27 million a year ago. Basic earnings per share from continuing operations was INR 1.78 compared to INR 1.4 a year ago. Diluted earnings per share from continuing operations was INR 1.75 compared to INR 1.37 a year ago.
For the six months, sales was INR 13,632.54 million compared to INR 12,745.28 million a year ago. Revenue was INR 13,741 million compared to INR 12,785.79 million a year ago. Net income was INR 590.46 million compared to INR 425.51 million a year ago. Basic earnings per share from continuing operations was INR 3.58 compared to INR 2.59 a year ago. Diluted earnings per share from continuing operations was INR 3.51 compared to INR 2.55 a year ago.
Vaibhav Global Limited is a holding company. The Company is an electronic retailer of fashion jewelry and lifestyle accessories. The Company owns and operates the Liquidation Channel in the United States, and Jewelry Channel in the United Kingdom. It operates through wholesale business-as a downstream manufacturing facility segment. The Company offers a range of jewelry and non-jewelry products. The Company manufactures and exports various kinds of jewelry, colored gems stones, precious and semi-precious stones. It offers fashion jewelry, including bracelets, bangles, earrings and studded jewelry. Its fashion accessories and lifestyle products include watches, handbags, scarves, home decor, bed linen, pillow covers and towels. Its products are sold on its television shopping and Web platforms. Its plants are located in Jaipur and Mumbai. In addition to electronic retailing, the Company also engages in traditional business-to-business wholesale distribution through STS Jewels Inc.