New Delhi, May 16, 2024.
Consumer electricals and home appliances maker V-Guard Industries Ltd on Thursday reported a 44.5 per cent increase in consolidated profit after tax at Rs 76.17 crore in the fourth quarter ended March 2024.
Kochi, Kerala-based V-Guard’s consolidated net profit rose to Rs 76.17 crore ($9.1 million) for the quarter ended March 31 from Rs 52.72 crore a year earlier.
Cable and wire manufacturers have seen an uptick in demand, driven by growth in real estate and infrastructure sectors, with additional support from government spending aimed at boosting the economy.
V-Guard’s revenue rose by 17.9% to Rs 1,343 crore, driven primarily by the company’s core electrical segment, which rose 10.7%.
The segment accounted for about 43.3% of total revenue during the quarter.
The company’s second-largest segment, consumer durables, posted a 27.9% jump in the quarter, benefiting from a seasonally strong demand quarter.