V-Guard’s Q2 Revenue grew by 46%

Kochi: Leading electrical appliances maker V-Guard Industries on Thursday reported 46% year-on-year growth in net revenue during the second Quarter of FY 2021-22. Consolidated Net Revenue from operations for the quarter ended September 30, 2021 is Rs 907.40 crore compared to the corresponding period of previous year (Rs. 623 Cr).

Consolidated Profit After Tax for the quarter ended September 30, 2021 was recorded at Rs 59.40 Cr up 15 per cent from Rs 51.62 Cr of the same period of the previous year. The growth has been broad based, across all categories. Sharp increases in input costs have had some impact on gross margins.

Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “This quarter saw a recovery from the impact of the 2 nd wave of Covid-19 in the first quarter of this year during which the South and East regions were more affected. The sharp increase in input costs has had some impact on gross margins. While we have taken pricing actions to offset a major part of the cost inflation, some more actions will follow in the ensuing months.”