Consumer electrical and electronics company V-Guard Industries Ltd has posted a 35 per cent growth in profit after tax (PAT) at Rs 58.95 crore during Q2 FY24, against Rs 43.66 crore recorded in the corresponding period of the previous year.
Consolidated PAT for six months is Rs 123.17 crore, a growth of 26 per cent from Rs 97.03 crore in the corresponding period of the previous year.
Consolidated net revenue from operations for the quarter is Rs 1,133.75 crore, a growth of 14 per cent (Rs 986.55 crore). Consolidated net revenue from operations for six months is Rs 2,348.51 crore, a growth of 17 per cent (Rs 2,005.05 crore).
Mithun K Chittilappilly, Managing Director, V-Guard Industries Ltd, said, “The second quarter witnessed subdued consumer demand, especially in discretionary categories like consumer durables, thereby impacting top-line growth. Gross margins improved further during the quarter and are now moving closer to pre-Covid levels. We continue to invest in capacity enhancement and capability for the long term. Cash generation remained strong with further reduction in working capital. Consumer response for some of our recent product launches has been positive and we expect a strong top-line growth in second half of the year.”