On a consolidated basis, the net profit of Vaibhav Global tumbled 45.64 per cent to Rs 22.93 crore in the second quarter of FY23 from Rs 42.18 crore reported in the second quarter of FY22. Revenue from operations rose 1.81 per cent to Rs 646.26 crore in Q2FY23 compared to Rs 634.79 crore recorded in Q2FY22. PBT stood at Rs 31.17 crore and went down 46.5 per cent from Rs 58.30 crore posted in Q2FY22. The total expenses rose nearly 6 per cent YoY to Rs 617.30 crore in the second quarter of FY23.

EBITDA margin declined to 8.1 per cent in the second quarter of  FY23 compared to 11.5 per cent reported in the first quarter of FY23. On 5 November 2022, the BOD declared the next interim dividend (second ) of Rs 1.50 per equity share. The record date will be the same, and within 30 days, the dividend shall be paid to the shareholders.

Nitin Panwad was appointed as Chief financial officer (CFO) after the approval of BOD under the category of whole-time key managerial personnel of the company effective from 27 October 2022, as Vineet Ganeriwala was resigning as President of Shop LC Global Inc. 

The company has to process gemstones, precious and semi-precious stones like fire opal, emerald and apatite. On BSE, the shares of Vaibhav Global rallied 4.95 per cent to Rs 359.30.