V-Guard’s Q2 web revenue jumped 35% to Rs 59 crore, web income from operations rose 15%

Business Standard

V-Guard Industries Ltd, a number one shopper electrical and electronics firm, registered a 35 % bounce in web revenue in Q2FY24 at Rs 58.95 crore, in comparison with Rs 43.66 crore recorded within the corresponding interval final 12 months.

The corporate’s consolidated web income from operations for the quarter stood at Rs 1,133.75 crore, 14.9 per cent larger than the income recorded within the corresponding interval final 12 months (Rs 986.55 crore). “Our electronics and electrical section has carried out properly, leading to larger earnings. This comes after final 12 months’s numbers, the place we noticed larger enter prices. Uncooked materials prices have now stabilized. Sudarshan Kasturi, CFO, V-Guard Industries, mentioned, “A little bit of a slowdown on the everlasting aspect, as there was a little bit of a slowdown in buyer demand and the climate hasn’t been nice both.”

The corporate’s consolidated revenue after tax through the six months ended September 30 was Rs 123.17 lakh crore, a progress of 26.9 per cent, as in opposition to Rs 97.03 lakh crore reported final 12 months. Consolidated web income from operations for a similar interval stood at Rs 2,348.51 crore, a progress of 17.1 per cent over the income recorded within the corresponding interval final 12 months (Rs 2,005.05 crore).

“The second quarter noticed a decline in shopper demand, particularly in discretionary classes comparable to shopper durables, which impacted total income progress. Gross margins improved additional through the quarter and are actually approaching pre-Covid ranges. We proceed to spend money on strengthening capabilities and long-term potential.” Money era remained robust with additional discount in working capital. “Shopper response to a few of our current product launches has been constructive and we anticipate robust progress within the second half of the 12 months,” mentioned Mithun Ok Chittilappilly, managing director of the corporate.

First revealed: November 1, 2023 | 2:04 pm he

(tags for translation) V-Guard

Leave a Reply

Your email address will not be published. Required fields are marked *