V Guard Industries Ltd has registered a 28 per cent increase in its net revenues in Q 1 at Rs 408 crore against Rs 319 crore over the corresponding period of last fiscal.
However, the profit after tax for the quarter was Rs 17.64 crore, showing a decrease of 17 per cent against Rs 20.65 crore achieved in the corresponding period.
This was because of the hike in spending on advertisement during the quarter to increase the brand visibility. The advertisement spend was increased by almost 85 per cent which lead to reduction in margins, the company said in a statement.
Wires, pumps and inverters performed exceptionally well and contributed 55 per cent to the total revenue.
Referring to business outlook, Mithun K. Chittilappilly, Managing Director, said the company had registered a good growth during the first quarter in terms of revenue. The business outlook remains positive and the company continues to see an enhanced demand to various product categories considering the festive season in Kerala.
The company obtained the Department of Scientific and Industrial Research (DSIR) recognition for its Research and Development (R&D) Centre at Kochi.
More Like This
Published on July 18, 2013
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.