V-Guard Industries Ltd has posted 23 per cent growth in its net profit at Rs 15.35 crore in Q3 of FY-13 against Rs 12.45 crore over the corresponding period last year.
The revenues for the third quarter also registered a 42 per cent increase touching Rs 349 crore against Rs 246.60 crore in the corresponding period of the previous fiscal. The revenues for the first nine months ending December 31 also increased by 42 per cent at Rs 981.31 crore.
The advertisement spend has increased by 141 per cent during the quarter resulting in reduction in margins. The recently launched products such as switch gears and induction cook tops in south India has been well accepted in the market.
Digital UPS, electric and solar water heaters and wires performed exceptionally well, contributing to 56 per cent to total revenue.
Mithun Chittilappilly, Managing Director said that the company has plans to launch mixer grinder during the first quarter of the next fiscal. The new products such as switch gears and induction cook tops will be launched in other markets in a phased manner.
“We intent to continue to grow our business across all product verticals to maintain the momentum this year as well and the products, stabilisers, wires, pumps and digital UPS are expected to perform well in the fourth quarter of the fiscal”, he said.