V-Guard Industries Ltd's profit after tax (before exceptional profit) for the fourth quarter of the fiscal 2010-11 has increased to Rs 11.29 crore, 85.57 per cent up from the corresponding quarter of previous year. The company's turnover for the quarter was Rs 222.59 crore, showing an increase of 56.46 per cent from Rs 142.27crore in the corresponding quarter of the previous year. The profit after tax before exceptional profit for the fiscal year 2010-11 increased to Rs 39.70 crore, a rise of 55.84 per cent up from an year ago.
The turnover for the financial year was Rs 726.34 crore, showing an increase of 59.96 per cent from Rs 454.09 crore an year ago. Considering higher profits, the board of directors has recommended payment of dividend at the rate of 35 per cent, i.e., Rs 3.50 a share. Mr Mithun K. Chittilappilly, Executive Director, said the surge in the top line and profits was mainly because of their entry into new markets. The contribution from non-South Indian markets to the turnover is more than Rs 160 crore in the fiscal 2010-11.