

KOCHI:
Leading electrical appliances maker V-Guard Industries on Friday reported 38% Y-o-Y growth in net revenue during the first Quarter of FY 2021-22. Consolidated Net Revenue from operations for the quarter ended June 30, 2021is Rs. 565.2 crore compared to the corresponding period of previous year (Rs. 408 Cr). Consolidated Profit After Tax for the quarter ended June 30, 2021 was Rs.25.5 Cr; a growth of 602% over corresponding period of previous year (Rs.3.6 Cr). Its gross margin improved by 3.8% during April-June quarter and Electrical and Durables segments performed well.
Commenting on the company’s performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The second wave of Covid-19 was more severe and our stronger markets went through extended closures, impacting consumer demand. Our manufacturing units in Sikkim were also impacted due to lockdowns. In the context of demand constraints, our Electricals and Durables segments have performed well. Commodity cost inflation has been significant in the recent months. While we have been able to offset a major part of it, some more pricing actions are being planned. We expect the business to bounce back strongly in the coming quarters”.

more recommended stories
- Technocity Masterplan: Technopark Phase IV to be Kerala Capital’s Next IT Destination
THIRUVANANTHAPURAM:Technopark, India’s first IT Park, has.
RPG Group Present Kar Dikha IndiaMUMBAI:Freedom finds a fresh beat this.
US Tariff Impact: Minister Holds Talks with SLBC on Export SectorTHIRUVANANTHAPURAM:The State Level Bankers Committee (SLBC).
Fashion Factory Announces “No Conditions Sale”MUMBAI:Get ready, fashion lovers! Fashion Factory,.
India’s Credit Demand Remains Resilient – Experian’s Latest Credit InsightsMUMBAI:Experian, a leading global data and.
KSUM-Backed Travel Startup Thrillark Clocks Two Lakh-Plus CustomersKOCHI:Reflecting on major opportunities tourism sector.
One-day Workshop on IPR for Startups, MSMEs in City on Aug 19THIRUVANANTHAPURAM:Kerala Startup Mission (KSUM), in association.
Technopark Invites EoI for the 2nd IT Building under ‘QUAD’ ProjectTHIRUVANANTHAPURAM:Technopark has invited Expression of Interest.
US Tariff Crisis: Kerala to Submit Memorandum to Centre, says MinisterKOCHI:The Kerala government will include recommendations.
A Railway Technician builds a ‘Real-Life BGMI Buggy’ from scratch atop the roof of his home in RajasthanBengaluru: In a powerful display of.