VIP Industries, leading luggage maker based in Mumbai, witnessed a phenomenal jump in share price on Friday after stellar Q2 performance. During the quarter, the profit of the company rose 4.13 times to Rs 157 million from Rs 38 million in the same quarter last year.

Revenues for the quarter rose 34.99% to Rs 2,955 million, compared with Rs 2,189 million for the prior year period.

Operating margin for the quarter stood at 8.53 percent as compared to 5.07 percent for the previous year period. Operating Income for the quarter was Rs 252 million, compared with Rs 111 million in the previous year period.

Shares of VIP Industries are trading at Rs 103, up Rs 17.15, or 19.98% at the Bombay Stock Exchange (BSE) on Friday at 2:30 p.m.

The scrip has touched an intra-day high of Rs 103 and low of Rs 86. The total volume of shares traded at the BSE is 1,219,992.