VIP Industries Ltd reports Q3 net loss of Rs 12 crore

Luggage and accessories maker VIP Industries Ltd reported a net loss of Rs 12 crore ($1.4 million) for the third quarter of financial year 2025, as against net profit of Rs 7 crore in the year-ago quarter.

The company’s revenue for the quarter declined by 8 percent to Rs 503 crore, as against Rs 549 crore in the corresponding quarter of the previous fiscal year.

“Volume growth continued to be strong at 13% for Q3 and 14% for 9M FY25. Revenue degrowth mainly on account of stiff competition on pricing and SL upright liquidation resulting in reduced ASPs,” VIP Industries said in its investor presentation.

“Gross margins impacted YoY mainly on account of lower realization owing to brand and channel mix, SL upright inventory liquidation at reduced margins and impacted Bangladesh profits due to reduced capacity utilization,” it added.

VIP Industries, which owns popular brands such as VIP, Carlton, Aristocrat, Skybags among others is one of the largest players in the luggage and accessories market in India.