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Consumer Electricals and Electronics major V-Guard Industries Ltd has registered a 20 per cent growth in PAT in Q1 of FY24, at ₹64.22 crore as against ₹53.37 crore recorded in the corresponding period of the previous year.
Consolidated net revenue from operations for the quarter is ₹1214.76 crore; a growth of 19 per cent over the revenue recorded in the corresponding period of the previous year (₹1018.29 crore).
- Also read: V-Guard net revenue grows 7.6% in Q4 FY23
Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said, “The business has delivered a strong top-line growth in Q1. The growth has been broad-based across all three segments. While the North region was somewhat impacted by unfavourable weather conditions, the other regions returned a strong performance. The impact of softening in commodity prices has started reflecting in gross margins, with gradual improvement over the last few quarters. We expect further improvement to reflect in coming quarters. Inventory levels have returned to normal, which has helped generate a strong cash flow. We look forward to the upcoming festive season and are hopeful to sustain the growth momentum during the quarters ahead.”
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