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The net profit of V-Guard Industries Ltd fell nearly 2 per cent to ₹20.07 crore on higher tax outgo in Q4 of FY15 from Rs ₹20.47 crore in the previous quarter.
Mithun K.Chittilappilly, Managing Director, said that lack of growth in bottomline was partly due to higher tax outgo, as the company’s tax-free plants after five year of operations have now come under the tax net. Besides, the challenging market conditions also contributed to a flat performance.
However, the net revenue from operations during the quarter rose 4.5 per cent to ₹441.60 crore from ₹422.44 crore. Net revenue from operations for the whole year was ₹1,745.92 crore, an increase of 15 per cent over the previous fiscal.
The board has recommended a dividend of ₹4.50 per share on the paid-up capital.
On business outlook, Chittilappilly said the company expects the business environment to improve and will continue to focus on expanding the network in the existing markets.
It has completed the national roll-out of new service delivery model and is planning to set up its third wire factory in Coimbatore which houses its wire and cable factories currently. The work is expected to be completed over the next two years, he said.
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