V-Guard Industries Ltd., maintains growth momentum; revenues increased by 42% net profit up by 23% in Third Quarter, 2012-13 Financial Year. “We intend to continue to grow our business across all Product Verticals to maintain the momentum this year as well and the products, stabilizers, wires, pumps and Digital UPS are expected to perform well in the fourth quarter of the fiscal. The Company is planning to launch Mixer Grinder during the first quarter of the next fiscal. The new products, switch gears and induction cook tops will be launched in the other markets in a phased manner,” said Mr. Mithun K. Chittilappilly, Managing Director, V-Guard Industries Ltd.
Revenues for the Third Quarter, ending December 31, 2012-13 fiscal, were Rs. 349 crores; an increase of 42% over corresponding period the last financial year (Rs. 246.60 crores).
Profit After Tax for the Third Quarter, ending December 31, 2012-13 fiscal, were Rs. 15.35 crores; an increase of 23% over corresponding period the last financial year (Rs. 12.45 crores).
During the quarter under review, advertisement spend has increased by 141% percent resulting in reduction in margins.
New products – launched switch gears and induction cook tops which were launched recently in South India has been well accepted.
Digital UPS, Electric & Solar Water Heaters and Wires performed exceptionally well, contributing to 56% to total revenue.