V-Gaurd PAT for Q2FY19 down by 18% at INR 38.18 crore

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Profit After Tax for the half year ended September 30, 2018 was INR.72.58 crore; increase of 4% as compared to INR 69.75 crore for the same period of previous year

Highlights:

  • Net Revenue from operations for the half year ended September 30, 2018, stood at Rs.1,232.47 crores; Growth of 9% as compared to Rs.1,132.96 crores in the same period of previous year.
  • Profit After Tax for the half year ended September 30, 2018, was Rs.72.58 crores; Increase of 4% as compared to Rs.69.75 crores in the same period of previous year.
  • Net Revenue from operations for the quarter ended September 30, 2018, stood at Rs.597.58 crores; Growth of 6% as compared to Rs.563.89 crores in the same period of previous year.
  • Profit After Tax for the quarter ended September 30, 2018, was Rs.38.18 crores; Lower by 18% as compared to Rs.46.50 crores in the same period of previous year.
  • Growth driven by Digital UPS, Switchgear and Kitchen appliances.
  • Launched Gas Stove in the markets of Tamil Nadu

 

Business Outlook:

Commenting on the company’s performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “Revenue for the quarter grew by 6% on a high base, as the corresponding quarter of last year had the recovery post GST rollout. Our performance this quarter was impacted by the floods in Kerala and unfavorable weather conditions elsewhere in the country. Yet, on a YTD basis, the like-to-like turnover growth has been at 12%. There is also a transitory impact on margins caused by volatility in commodity prices and the depreciation of the Rupee. We continue to make good progress in the non-South markets, and we plan to extend our new products into further markets in the second half of the year. We are hopeful of recovering a part of the top line growth in the coming months. Some pricing actions are being planned which will help recover the impact of input cost increases”.

About V-Guard Industries Limited:(BSE: 532953; NSE: VGUARD)

V-Guard Industries Limited. is one of India’s leading consumer electrical and electronics company. Incepted in 1977 by Mr. Kochouseph Chittilappilly to manufacture and market Voltage stabilizers is now a force to reckon with in the Indian electric and electronic goods panorama. The company has established a strong brand name and aggressively diversified to become a multi-product company catering to the Light Electricals sector manufacturing Voltage stabilizers, Invertors & Digital UPS systems, Pumps, House wiring/LT cables, Electric water heaters, Fans, Solar water heaters and has also recently forayed into Induction cooktops Switchgears and mixer grinder.

Incorporated in 1996, V-Guard Industries Limited. is currently been led by Mr. Mithun Chittilappilly (current MD). As of today, V-Guard is armed with over 500 distributors, 3,000 direct dealers, more than 20,000 retailers and service centres spread across the 29 states.

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