V-Guard Industries net profit up 77% to Rs 78.24 cr in Dec quarter

V-Guard Industries Ltd on Wednesday reported a nearly 77 per cent increase in consolidated net profit at Rs 78.24 crore in the third quarter ended December 2020.

It had posted a net profit of Rs 44.24 crore in the October-December quarter last fiscal,V-Guard Industries said in a regulatory filing.

Revenue from operations rose 32.15 per cent to Rs 835.03 crore during the period under review. The same was at Rs 631.88 crore in the year-ago period.

V-Guard Industries Managing Director Mithun K Chittilappilly said that improved consumer sentiment, festive season and share gain from the unorganised sector have driven growth during the quarter.

"The sharp increase in commodity prices led to a slight drop in gross margins," he added.

V-Guard's total expenses stood at Rs 730.49 crore in the latest December quarter.

Shares of the company closed flat at Rs 240.75 on the BSE.