V-Guard Net jumps 23 pc at Rs 15 cr in December quarter
V-Guard Group today reported 23 per cent increase in its net profit at Rs 15.35 crore on the back of a 42 per cent rise in revenues in the December quarter.
By PTI |
MUMBAI: The Kerala-based diversified V-Guard Group today reported 23 per cent increase in its net profit at Rs 15.35 crore on the back of a 42 per cent rise in revenues in the December quarter.
Revenue for the quarter rose to Rs 349 crore, an increase of 42 per cent over corresponding period last financial year at Rs 246.60 crore, the company said in a release.
The company attributed low profit to higher ad spends as it launched new products in the reporting period.
During the quarter under review, advertisement spend has increased by 141 per cent per cent resulting in reduction in margins, the company said.
The company manufactures voltage stabilisers, wiring cables, electric pumps, electric motors, geysers, solar water heaters, electric fans and UPSes.
On the business outlook, V-Guard Industries Managing Director Mithun K Chittilappilly said, "we intend to continue to grow our business across all verticals to maintain the momentum this year as well and stabilisers, wires, pumps and digital UPS are expected to do well in the fourth quarter.
Revenue for the quarter rose to Rs 349 crore, an increase of 42 per cent over corresponding period last financial year at Rs 246.60 crore, the company said in a release.
The company attributed low profit to higher ad spends as it launched new products in the reporting period.
During the quarter under review, advertisement spend has increased by 141 per cent per cent resulting in reduction in margins, the company said.
The company manufactures voltage stabilisers, wiring cables, electric pumps, electric motors, geysers, solar water heaters, electric fans and UPSes.
On the business outlook, V-Guard Industries Managing Director Mithun K Chittilappilly said, "we intend to continue to grow our business across all verticals to maintain the momentum this year as well and stabilisers, wires, pumps and digital UPS are expected to do well in the fourth quarter.
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