V-Guard’s Net Profit for Q1FY 2018-19 increases by 50%

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V-Guard’s Net Profit for Q1FY 2018-19 increases by 50%

India, August 1, 2018:

India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its results for the quarter ended June 30, 2018

Highlights:

  • Net Revenue from operations for the quarter ended June 30, 2018 was Rs.634.89 crores; with a like to like growth of 19% (GST adjusted) over the corresponding quarter of the previous year
  • Profit After Tax for the quarter ended June 30, 2018 was Rs. 34.40 crores; an increase of 50%. over corresponding period of previous year (Rs.22.92 crores).
  • Growth driven by Digital UPS, Fans, Water Heaters, Wires and Switchgears
  • Recent launches  of kitchen appliances and Modular Switches have received good consumer response

Business Outlook:

  • Commenting on the company’s performance, Mr. Mithun.K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “A weak summer adversely impacted some of our categories, yet we are on track to achieve our growth ambition.  We are making good progress in building the strength of our brand, gaining scale in our non-traditional markets and in continuously expanding our product portfolio. We welcome the reduction in the GST rates from 28% to 18% on appliances such as Mixer/Grinder and Storage Water Heaters. We have passed on the full benefits of GST reduction to our customers. We believe that the rationalisation of rates and other steps taken under GST will stimulate consumer demand and formalisation of the economy.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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