V-Guard Industries Limited registered a 276 per cent increase in net profit for Q3 of the current fiscal. The company earned a PAT of Rs 5.26 crore from Rs 1.40 crore in the corresponding period of last year. The company’s profit before tax increased by 307 per cent to Rs 7.97 crore for the three months period under review, from Rs.1.96 crore. The gross turnover of the company for the period was Rs 122.03 crore, registering a growth of 71 per cent compared to the turnover of Rs 71.22 crore for the corresponding period of the previous year.
The profit after tax surged by 68 per cent to Rs 19.39 crore for the nine months ended 31st December 2009, from Rs 11.53 crore in the corresponding period of the last year, a company press release said.
Kochouseph Chittilappilly, the company's managing director, attributed the reason for higher volume to the grwoth achieved in the company spreading its horizons to the North Indian markets. V-Guard has commercialised its pilot production unit for water heater and fan at Kala Amb from the first week of December 2009. With the commissioning of this unit, the company has completed all the four production units envisaged in the offer document of the Initial Public offer. He added that land for constructing service-cum-distribution centre at Hubli had been purchased and that the remaining two projects would be completed by the first half of next fiscal.