The consumer electricals and electronics Company V-Guard Industries Ltd announced its unaudited financial results for the quarter ended December 31, 2021.
The Consolidated Net Revenue from operations for the quarter ended December 31, 2021, was Rs.967.38 crore, a growth of 16% compared to the corresponding period of the previous year (Rs.835.04 crore). The consolidated profit After Tax for the quarter ended December 31, 2021, was Rs.53.92 crore, PAT de-grew by 31%over the corresponding period of the previous year (Rs.78.25crs).
While consumer durables and Kitchen appliances grew well the hyperinflation in input costs has had some impact on gross margins.
The consolidated Net Revenue from operations for the9 months ended December 31, 2021, was Rs. 2439.97 crore- a growth of 31% compared to the corresponding period of the previous year (Rs. 1866.04 CRS). The Consolidated Profit After Tax for the 9 months ended December 31, 2021, was Rs. 138.86crs; a growth of 4% over the corresponding period of the previous year (Rs.133.50crs).
Commenting on the company’s performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “This quarter started with a good momentum; however, the growth muted towards the end of the quarter with the start of the third wave. The sharp increases in commodity prices have 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.”
