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Consumer electricals and electronics major V-Guard Industries Ltd has reported a drop in PAT in Q2-FY23 at ₹43.66 crore against ₹59.40 crore in the corresponding period of the previous year.
However, it posted 8.7 per cent growth in consolidated net revenue from operations for the quarter ended September 30, at ₹986.14 crore compared to ₹907.40 crore in the corresponding period of the previous year.
Mithun K Chittilappilly, Managing Director, V-Guard Industries Ltd, said, “Turnover in Q2 grew 8.7 per cent on a high base, recording a CAGR of 16.5 per cent over the last three years. Durables segment witnessed a strong growth. Margins for the quarter were impacted by sale of higher cost wires inventory at relatively lower realisations due to fall in copper prices. Even in other categories, input costs remain significantly higher than long term averages, despite some reduction seen in the last few months. We should see margins returning to pre-Covid levels over the next two quarters.”
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