V-Guard Industries Reports 17.7% Net Profit Rise to ₹69.39 Crore in Q2

29 Oct 2024 , 08:25 PM

V-Guard Industries Ltd, a prominent electrical goods manufacturer, reported a consolidated net profit of ₹69.39 Crore for the September quarter, reflecting a substantial increase of 17.7% compared to ₹58.95 Crore in the same period last year.

Shares of V-Guard Industries Ltd has closed at ₹428.50 on October 29, 2024, which is a 3.56% gain than the previous close. The stock has gained a total of 41% in the last one year, and 47% since the beginning of the year.

The company experienced a 14.13% growth in revenue from operations, reaching ₹1,293.99 Crore, up from ₹1,133.75 Crore during the corresponding quarter in the previous fiscal year.

Total expenses for V-Guard in the September quarter rose by 13.36%, amounting to ₹1,213.42 Crore. The total income, which includes other earnings, increased by 13.07%, reaching ₹1,298.04 Crore for the quarter.

Managing Director Mithun K Chittilappilly highlighted that the strong topline growth was primarily driven by the electronics segment, with gross margins improving due to a higher proportion of in-house manufacturing and cost-saving initiatives.