V-Guard Revenue Grows By 14.9%; Profit After Tax Grows 35% In Q2 FY24

V-Guard Industries Ltd., a leading Consumer Electricals and Electronics Company announced its unaudited financial results for the quarter ended September 30, 2023, the company on Tuesday announced through an exchange filing.

Q2 FY 2023-24 highlights

Consolidated Net Revenue from operations for the quarter ended September 30, 2023 is Rs. 1133.75 crs; a growth of 14.9 percent over the revenue recorded in the corresponding period of the previous year (Rs. 986.55 crs). Consolidated Profit After Tax for the quarter is Rs. 58.95 crs, a growth of 35 percent as against Rs. 43.66 crs recorded in corresponding period of the previous year.

Consolidated Net Revenue from operations for the six months ended September 30, 2023 is Rs. 2348.51 crores; a growth of 17.1 percent over the revenue recorded in the corresponding period of the previous year (Rs. 2005.05 crs). Consolidated Profit After Tax for the six months ended September 30, 2023 is Rs. 123.17 crs, a growth of 26.9 percent as against Rs. 97 .03 crs in corresponding period of the previous year.

Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said "The second quarter witnessed subdued consumer demand especially in discretionary categories like consumer durables thereby impacting topline growth. Gross margins improved further during the quarter and are now moving closer to pre covid levels. We continue to invest in capacity enhancement and capability for the long term. Cash generation remained strong with further reduction in working capital."

V-Guard Industries Ltd. shares

The shares of V-Guard Industries Ltd. on Tuesday at  3:08 pm IST were at Rs 301.50, down by 0.51 percent.

Published on: Tuesday, October 31, 2023, 03:13 PM IST