V-Guard Industries Ltd has announced that its consolidated net revenue from operations grew 7.6 per cent in the quarter ended March 31, 2023 to ₹1,140.14 crore against ₹1,059.17 crore in the corresponding period of the previous fiscal.
However, the company’s consolidated PAT for the quarter decreased to ₹52.73 crore against ₹89.58 crore in the corresponding period of the previous financial year.
Consolidated net revenue from operations for the overall FY23 grew to ₹4,126.04 crore against ₹3,500.19 crore in FY22, while the consolidated PAT was ₹189.05 (₹228.44 crore).
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Mithun K Chittilappilly, Managing Director, V-Guard Industries Ltd, said, “During the year, the electronics and durables segments registered strong top-line growth. We are making sustained progress towards achieving scale in key durables categories. Non-South regions grew 26 per cent, contributing 45 per cent of the overall revenues. We are seeing improvements in margins as the effect of slight softening of input costs is being felt. We expect margins to further improve in the coming year.”
“In Q4 FY 23, we completed the acquisition of Sunflame and the merger of Simon...These mergers and acquisitions are a good strategic fit to V-Guard with multiple levers for synergy benefits,” he added.