V-Guard Industries Sees Profit Surge in Q2 Boosted by Electronics Segment

V-Guard Industries Ltd reported a 17.7% rise in consolidated net profit to Rs 69.39 crore for Q2, driven by strong electronics segment performance. Revenue increased by 14.13%, and the company aims to maintain this momentum, despite challenges in wire margins due to volatile copper prices.

V-Guard Industries Ltd, a leading manufacturer of electrical goods, has reported a significant rise in its consolidated net profit for the second quarter, amounting to Rs 69.39 crore. This marks a 17.7% increase over the Rs 58.95 crore profit posted during the same period last year.

The company's revenue from operations grew by 14.13% to reach Rs 1,293.99 crore, up from Rs 1,133.75 crore in the corresponding quarter the previous year. Total expenses increased by 13.36% to Rs 1,213.42 crore, contributing to a total income rise of 13.07%, reaching Rs 1,298.04 crore.

Managing Director Mithun K Chittilappilly attributed the growth to robust performance in the electronics segment and ongoing cost-saving initiatives. Despite industry challenges like fluctuating copper prices affecting wire margins, the firm remains optimistic about sustained growth in the coming months. V-Guard's shares rose by 3.44% to Rs 427.90 on the BSE.

(With inputs from agencies.)