Vakrangee declares quarterly numbers; PAT up by 7 per cent
Mayuresh Deshmukh / 08 Feb 2016
This quarter exceeding the estimated targets the total number of Vakrangee Kendra Outlets increased to 18,067 outlets.
India's largest network of last-mile retail points of sale, Vakrangee, announced its nine month ending quarterly results on Wednesday. It is the unique technology driven company focused on building network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, ecommerce and ATM services to the unserved rural, semi-urban and urban markets. These retail touch points are called as “Vakrangee Kendra” which act as the “One-stop shop” for availing various services and products. This quarter exceeding the estimated targets the total number of Vakrangee Kendra Outlets increased to 18,067 outlets.
On financial front the consolidated net revenue from operations of Vakrangee reached to Rs 819 crores in Q3FY16 compared to Rs 788 crores in Q2FY16, an increase of 4 per cent QoQ. The EBITDA stands at Rs 212 crores this quarter compared to Rs 204 crores in Q2FY16, an increase of 3.82 per cent QoQ. The EBITDA margin this quarter stands at 25.88 per cent compared to 25.92 per cent in Q2FY16. The raw material consumption decreased to 580 crores this quarter compared to Rs 714 crores in Q2FY16, ía decrease of 18.80 per cent QoQ. The net profit stands at Rs 103 crores in Q3FY16 compared to Rs 89 crores in Q2FY16, an increase of 7 per cent QoQ.
The nine month ending consolidated net revenue from operations increased by 11 per cent and reached Rs 2311 crores compared to Rs 2082 crores for the same period last year. The net profit for the same nine month period stands at Rs 284 crores compared to Rs 246 crores, an increase of 15.44 per cent from the same period last year.
Recently the company announced that its corporate agency has tied up with Tata AIG General Insurance Company, a joint venture between Tata Group and American International Group (AIG). The tie up will help citizens, especially in un-served and underserved areas to distribute quality general insurance products through Vakrangee distribution network.
After the results the stock of company fell to Rs 203.15, a decrease of 2.31 per cent from previous close.
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