Vakrangee Q1 FY23 Result Update.
Vakrangee reported a net profit of Rs. 4.52 crores, down by 80.6% from Rs. 23.33 crores in June 2021. Near Term profitability has been impacted as the company is re-investing the operational cash flows for enhancing franchisee incentives. The net profit decreased from Rs. 30.12 crores, by 85% QoQ basis.
Gross Margins have been impacted mainly because of the launch of Additional Franchisee incentive schemes. The gross margin for the June quarter was 9.5% as compared to 22.1% in the previous quarter. The gross profit stood at Rs. 21.38 crores from Rs. 46.14 crores in the March quarter.
Revenue from Operations stands at Rs. 226.03 crores in Q1 FY23 as against Rs. 154.02 crores for Q1 FY22, up by 8.25% QoQ. The revenue increased by 46.75% YoY from Rs. 154.02 crores. Strong growth was witnessed in revenues due to an increase in number of outlets as well as services becoming normalized and operational post-pandemic.
Quarterly Gross Transaction Value (GTV) crossed Rs. 134.37 Billion registering a growth of 25.58% on a YOY basis and 6.16% on a QOQ basis. The quarterly no. of transactions crossed 34.82 Million registering a growth of 28.96% on a YOY basis and 5.78% on a QOQ basis.
Total expenses the quarter ended nearly doubled to Rs 221.3 crore from Rs 124 crore on a YoY basis, increased by 78% YoY and by 77% QoQ from Rs. 124.8 crores. The total comprehensive income of the company as of Q1 FY23 was at Rs 4 crore as against Q1 FY22 of Rs 23.29 crore.
EBITDA stands at Rs. 10.43 crore in June 2022 down 69.4% from Rs. 34.08 crores in June 2021.
Profit before tax is Rs. 6.49 crore in June 2022 as compared to Rs. 30.54 crores in June 2021. The PBT for the March quarter was Rs. 37.75 crores.
EPS has decreased to Rs. 0.04 in June 2022 from Rs. 0.22 in June 2021 and 0.28 in the previous quarter.
On 20th July 2022, the stock is trading at Rs. 29.80 as compared to the previous close of Rs. 29.75, up by 0.05 points or by 0.17%. The stock opened at Rs. 29.95. The market cap of the company is Rs. 3,157 crores. The stock hit the intraday high and low of Rs. 30.15 and Rs. 29.65 respectively.
