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V-Guard shares up by 6% as net profit surges to Rs 68 crore in March quarter



News24

LAST UPDATED: May 27, 2021, 2:39 p.m.

New Delhi (Anish Yande): Shares of V-Guard Industries rose on Thursday’s trading session following the announcement of results for the March quarter of 2021. V-Guard shares surged 4 per cent to hit a new 52-week high on Thursday.

V-Guard Industries shares opened at Rs 253 per share rising to an intraday high of Rs 265 per share from the previous close of Rs 248.90 per share.

V-Guard Industries March quarter results:

V-Guard Industries posted a net profit of Rs 32.23 crore in the March quarter of FY20. The electrical appliances maker’s net profit grew to Rs 68.38 crore in Q4 FY21.

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For the fiscal year 2020-21, V-Guard Industries net profit has increased to Rs 201.89 crore. The net profit was of the electrical appliances maker’s was recorded at Rs 188.25 crore in the previous year. The net profit of V-Guard rose by 7.24 per cent.

Consolidated profit after tax for the entire year increased by 7.2 per cent to Rs 201.89 crore as compared to Rs 188.25 crore in the previous financial year.

V-Guard Industries’ revenue from operations was at Rs 541.13 crore in the corresponding quarter of the year-ago period. Revenue from operations rose to Rs 855.19 crore in Q4 FY21. The revenue from operations grew by 58.04 per cent on a year-on-year basis.

The revenue from operations in the financial year 2020-21 rose to Rs 2,721.23 crore as compared to Rs 2,502.94 crore in FY20. Revenue from operations increased by 8.72 per cent.

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V-Guard Industries’ total expenses were at Rs 503.90 crore in the corresponding period a year ago. The electrical appliances maker’s total expenses rose to Rs 759.36 crore, at an increase of 50.7 per cent.

All segments of V-Guard Industries, consumer durables, electronics, and electrical recorded strong growth during the March quarter of 2021.The company’s board of directors approved a recommended final dividend of 120 per cent. The company’s final dividend is at Rs 1.20 per share Rs 1 each for the financial year 2020-21.

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