The Hindu Business Line : V Guard net up 88%, sales rise 37%

The company, which successfully completed its IPO in February, said its sales grew by 37 per cent, while the net revenue for the quarter was up at Rs 65.29 crore (Rs 47.73 crore).

The profit after tax for the first nine months of the current fiscal has grown to Rs 33.83 crore (Rs 9.26 crore). Non recurring income of Rs 22.77 crore reported during the period was the prime reason for the sharp increase in the company’s profit, a V Guard statement said.

The company is a leading manufacturer of voltage stabilisers and also deals in other products such as insulated cables, pumps and motors, solar and electric water heaters, electric fans and UPS.

During the period, the company opened eight new branches and the work on two new factories — the building cable unit at Uttaranchal and the LT cable manufacturing unit at Coimbatore — is in progress.

Both these factories are slated to start commercial production during the third quarter of the next financial year, Mr Kochouseph Chittilappilly, Managing Director of the company said.

Other projects on the anvil are pilot production centres for water heaters and fans at Himachal Pradesh and for pumps at Coimbatore. Distribution centres at Bangalore, Hubli and Vijayawada are also expected to be completed soon.