Kochi: V-Guard Industries, one of Kerala’s most respected corporate houses, reported a decline of 23 per cent in net profit sequentially to Rs35.76 crore for the quarter ending December 31, 2017 compared with the previous quarter that ended with a net profit of Rs46.97 crore.
However, compared with the corresponding quarter of the previous year, the current year period saw a handsome growth. While the net sales of the third quarter was slightly down at Rs523.51 crore against Rs559.91 crore that of the previous quarter, the other income was a tad better at Rs2.56 crore during the period compared with Rs2.05 crore.
The company didn’t have interest expense during the quarter being a zero debt company, which itself holds a lot of promise for the future. The segment-wise analysis of the company’s financials reveals that about half of the company’s revenue came from its electricals division, which contributed sales turnover to the tune of Rs243.37 crore whereas the consumer durables generated Rs148.80 crore and electronics another Rs129.34 crore during the period.
Likewise, the electricals division contributed more than 55 per cent to the net profit of the company with the rest being generated by consumer durables and electronics divisions.