BBN Bureau
Full-year profit up by 13 pc to Rs228.44 cr
KOCHI/May 26-2022: The consolidated profit after tax (PAT) or net profit of V-Guard Industries, the leading consumer electricals and electronics company, for the quarter ended March 31, 2022 was Rs89.58 crore, growing by 31 per cent over the corresponding period of the previous year
The profit for the year ended March 31, 2022 grew by 13.15 per cent to Rs 228.44 crore compared with Rs201.89 crore, the company recorded for the previous year.
Consolidated net revenue from operations for the year ended March 31, 2022 was Rs3,498.17 crore, a growth of 28.55 per cent compared with the net revenue of previous year at Rs2,721.24 crore.
V-Guard’s fourth quarter (Q4) revenue grew by 23.7 per cent year-on-year (Y-o-Y) to Rs1058.21 crore compared with Rs855.20 crore in the same period in the last year.
Continuing volatility at a global level presents a challenging environment for the company going ahead. The overall business has done well, barring margin pressures in specific categories.
Mithun. K. Chittilappilly, Managing Director, V-Guard Industries, said the business has shown a very good performance during the quarter, with both South and non-South regions doing well.
“We were able to overcome supply chain challenges we faced in the earlier waves of Covid. Electrical and Durables categories have shown strong growth,” Chittilappilly added.
While the commodity prices remain elevated in the context of on-going uncertainties at global level, the company has continued to take pricing actions with some more actions likely to be followed in the coming months.
