V-Guard Industries profit after tax registers 67 per cent growth

KOCHI: The profit after tax of V-Guard Industries Limited, the electronic and electrical major, for the first quarter of the fiscal 2012-13 increased to Rs 20.65 crore, which represents a growth of 67% over the corresponding quarter of previous year.

The net turnover of the company for the first quarter was Rs 329 crore, showing an increase of 37%. Mithun K Chittilappilly, Managing Director of the Company said the sales growth has been driven by growth in sales of all product verticals owing to better than expected summer season.

He said that margin improvement is due to better volume growth and tight cost control measures adopted by the company.

The company has commenced the expansion work on doubling the capacity of Kashipur house wiring plant with an investment of Rs 18 crore. The company will set up large warehouse facilities at Perundurai and Hyderabad to augment its supply chain facilities.