V-Guard Industries Q1 net soars 26.13 per cent at Rs 22.25 crore

MUMBAI: Kochi-based V-Guard Industries today reported a 26.13 per cent increase in net profit for the quarter ended June 30 at Rs 22.25 crore.

The net profit of the company in the corresponding period last fiscal stood at Rs 17.64 crore.

Its net revenues for the quarter stood at Rs 477.70 crore against Rs 408.16 crore year-ago, registering a growth of 17 per cent, a release issued here said.

"The growth in topline and bottom line is due to better product mix, favourable market conditions. The business outlook remains positive and we expect to keep the growth momentum," company's Managing Director Mithun Chittilappilly said.

The company plans to launch its premium electric water heater model 'Pebble' nationally this fiscal, the release said.

"Apart from this, V-Guard will also introduce a new range of mixer grinders in Kerala before the Onam season and induction cook tops in other south Indian markets," he added.