Business   

V-Guard net sales up 17.80 %

Kochi: The Board of Directors of V-Guard Industries Limited, the manufacturer of voltage stabilizers, and other electronic and electrical equipment, has adopted the unaudited financial results for the quarter ended December 31, 2008. The net sales of the company for the nine-month period ended 31st December was Rs.23163.09 lakh compared to Rs.19662.22 lakh for the corresponding period last year, showing a growth of 17.80 per cent.

The profit before tax of the company for the period ended December 31 was Rs.1,792.65 lakh against Rs.1,713.29 lakh (excluding the income amounting to Rs.2970.74 lakh received by way of sale of land) during the same period of the pervious year. The net sales of the company for the third quarter was Rs.6,921.92 lakh, up 6.27 per cent, as compared to Rs. 6,513.31 lakh for the corresponding quarter of the previous year.

The company has recorded a net profit before tax Rs.195.78 lakh for the third quarter compared to the profit of Rs.317.41 lakh for the same period of the previous year. The reduction in the profit for the quarter is mainly due to the crash in commodity prices like copper. The net reduction in the value of inventory and realisation is estimated at Rs.279.09 lakh.

According to Kochouseph Chittilappilly, Promoter and Managing Director, “Our LT cables factory at Coimbatore is under trial production and the domestic cable factory at Uttarakhand is expected to commence trial production by mid February, 2009.

Aggressive growth strategy adopted by the company by expanding its reach across the country paid off. The outlook for the remaining quarter also looks positive.”

During the last fiscal, the company made a rapid expansion by opening new branches in various parts of India. This contributed for a substantial growth in the turnover from North India, when compared with the corresponding quarter of the previous year.

The other projects, Pilot production Plants for Water Heaters and Fans at Himachal Pradesh and Distribution Centre at Hubli and Vijayawada are expected to be completed by first half of next fiscal.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

SBI freezes home loan rate at 8%
KPMG cannot restate Satyam accounts, says ICAI
New CBDT chief assumes charge
M&M Q3 profit dips on forex losses
Sharp drop in Sundram Fasteners’ third quarter net profit
Union Bank in pact with Great Lakes
Situation not rosy for coconut growers
V-Guard net sales up 17.80 %
Bullion Rates

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu