V-Guard Industries today reported a 69.94 per cent rise in its net profit at ₹ 39.19 crore for the quarter ended September 30, 2016.
The company had posted a net profit of ₹ 23.06 crore during the same quarter in the year ago period.
Its net sales during the quarter under review rose to ₹ 493.2 crore from ₹ 431.1 crore a year-ago, up 14.40 per cent, the company said in a BSE filing.
“We have improved the topline growth when compared with the corresponding quarter of the previous year. We will be expanding to the north markets and expand our range in the kitchen and home appliances range to cater to a wider audience...The business outlook remains positive and the consumer confidence is high,” the company’s Managing Director Mithun K Chittilappilly said.
The firm further said, owing to better market conditions, products like electric water heaters, pumps, fan and UPS have done extremely well during the quarter under review.
Shares of the company closed 0.27 per cent up at ₹185.50 per scrip on BSE.