V-Guard Q3 profit drops 5 pc to Rs33.70 cr

KOCHI: V-Guard Industries, the leading manufacturer of electronics and electrical equipment, has posted a net profit of Rs33.70 crore for the third quarter ending December 31, 2018, representing a drop of five per cent compared with Rs35.44 crore, the company turned in for the same period last year.
Net revenue generated by the company from operations for the quarter ended December 31, 2018 stood at Rs594.27 crore, representing a growth of 12 per cent over Rs529.68 crore the company reported for the same period last year.
The growth was primarily driven by the sales in stabliliser, digital UPS water heater and fan.
Commenting on the company’s performance, Mithun K Chittilappilly (seen in the picture), managing director, V-Guard Industries, said volatility in commodity prices and currency exchange rate impacted the margins of the company during the period under review.
“We are taking various actions to improve the margins in the coming quarter. We continue to make good progress in the non-South markets,” Chittilappilly added.