 "V-Guard Q2FY25 results: Net profit increases 7.5% to Rs 63.39 crore")
V-Guard Industries Ltd, a leading consumer electricals and electronics company, on Tuesday reported a 7.5 per cent growth in consolidated profit after tax for the second quarter of financial year 2024-25 (Q2FY25) to Rs 63.39 crore, against Rs 58.95 crore recorded in corresponding period of the previous year.
The company’s consolidated net revenue from operations for the quarter ended September 30 this year was Rs 1,293.99 crore, posting a growth of 14.1 per cent over the revenue recorded in corresponding period of the previous year, which was Rs 1,133.75 crore.
“Our electronics and electrical segment has done well, leading to a rise in profits. The concerns such as higher input costs is over and raw material prices have stabilised. However, the sales during the Onam season was not as expected, with rains too playing spoilsport,” said Sudarshan Kasturi, chief financial officer, V-Guard Industries.
Consolidated net revenue from operations for the six months ended September 30, 2024 was Rs 2,771.09 crore, a growth of 18 per cent over the revenue recorded in corresponding period of the previous year, which was Rs 2348.51 crore.
Consolidated profit after tax for the six months was Rs 162.36 crore, posting a growth of 31.8 per cent as against Rs 123.17 crore in corresponding period of the previous year.
Mithun K Chittilappilly, Managing Director, V-Guard Industries Ltd said, “The business has delivered healthy topline growth during the quarter led by the electronics segment. Gross margins continue to improve aided by higher share of in-house manufacturing, cost saving initiatives and gradual shift towards a premium portfolio. Margins for wires, which is the largest category in electricals segment, was impacted during the quarter due to volatile copper prices. We expect to continue the momentum and deliver a strong performance in the second half of the year.”