Videocon net up 7%

Consumer electronics major Videocon Industries reported a 7.38 per cent increase in net profit to Rs 160 crore for the quarter ended September 30 over the corresponding period last year.

The Mumbai-headquartered group had recorded a net profit of Rs 149 crore in the same quarter a year ago.

For the full year ended September 30, the company recorded 48 per cent growth in net profit to Rs 594.93 crore, against Rs 400.66 crore reported last year.

The company’s net sales for the quarter rose 14 per cent to Rs 2,985.46 crore, against Rs 2,621.24 crore reported last year. The consumer electronics business contributed to much of the topline registered during the quarter at Rs 2,731.59 crore — 19 per cent growth over the year-ago period.

Revenues from Videocon’s oil and gas business, however, declined to Rs 253.87 crore from Rs 318.43 crore reported last year. The decline was 20 per cent year on year.

The shares of Videocon was trading up 0.65 per cent today to close trade at Rs 260.50 per share on the Bombay Stock Exchange. It hit an intra-day high of Rs 263 and a low of Rs 259 per share.