Electrical appliances maker V-Guard Industries has reported a 38 per cent growth in net revenue during the first quarter of FY 2021-22. Consolidated net revenue from operations for the quarter was Rs 565.2 crore compared to that in the corresponding period of the previous year (Rs 408 crore).
Consolidated PAT for the quarter was Rs 25.5 crore, a growth of 602 per cent over the corresponding period of the previous year (Rs 3.6 crore). The gross margin improved by 3.8 per cent during the April-June quarter and the electrical and durables segments performed well.
Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said: “The second wave of Covid-19 was more severe and our stronger markets went through extended closures, impacting consumer demand. Our manufacturing units in Sikkim were also impacted due to lockdowns. In the context of demand constraints, our electricals and durables segments have performed well. Commodity cost inflation has been significant in recent months. While we have been able to offset a major part of it, some more pricing actions are being planned. We expect the business to bounce back strongly in the coming quarters”.