V-Guard Q1 Profit Soars 54% to Rs 99 Cr | Business News

New Delhi, Jul 24 (PTI) V-Guard Industries on Wednesday reported 54.11 per cent increase in consolidated net profit at Rs 98.97 crore for June quarter FY25 helped by improvement in margins with softening commodity prices and cost-effective initiatives.

The electrical goods manufacturer had clocked a net profit of Rs 64.22 crore in April-June FY24, according to a regulatory filing.

Revenue from operations rose to Rs 1,477.10 crore during the period under review from Rs 1,214.76 crore in the corresponding period a year ago.

Total expenses were up 18.5 per cent to Rs 1,351.65 crore. Total income was higher by 21 per cent at Rs 1,484.01 crore in June quarter.

"The business has delivered strong topline growth in electronics and consumer durables segments led by strong demand for summer products," Managing Director Mithun K Chittilappilly said.

However, the wires segment, which is the largest category under the electricals segment was impacted by trade de-stocking due to the softening of copper prices in June.

Overall, V-Guard witnessed a good performance in all regions, with the contribution from non-South markets to total revenue exceeding 50 per cent during the quarter.

"Gross margins continue to improve with the benefit of softening commodity prices and various pricing and cost-effective initiatives flowing through," Chittilappilly said.

On the outlook, he said that the company is optimistic about delivering a good performance in coming quarters.

Meanwhile, in a separate filing, V-Guard informed that its board has appointed Radha Unni as its chairperson.

Shares of V-Guard Industries were trading at Rs 463.85 apiece, up 2.10 per cent on the BSE.