V-Guard Industries Limited, India’s leading consumer electrical and electronics company, announced the unaudited financial results for the quarter ended September 30, 2019.
Q2 FY 20 highlights:
Consolidated Net Revenue from operations for the quarter ended September 30, 2019 was Rs. 623.27 crores; an increase of 3.1% over previous year (Rs.604.50 crores).
Consolidated Profit Before Tax for the quarter ended September 30, 2019 was Rs.78.48 crores; Increase of 62.6% over the previous year (Rs.48.27 crores).
Consolidated Profit After Tax for the quarter ended September 30, 2019 was Rs.58.75 crores; Increase of 54.4% over the previous year (Rs.38.04 crores).
During the quarter, Stabilizer and electrical segment registered growth. Overall, subdued consumer demand impacted top-line growth.
Non-South markets contributed 37% of turnover for the quarter, up from 35.7% in the corresponding quarter of the previous year.
Results for the quarter include a writeback of Rs.10.12 crores of ESOP provisions no longer required.