V-Guard Industries has surged 8% to Rs 530 after reporting a 129% year-on-year growth in net profit for the quarter ended March 31, 2014 (Q4FY14) at Rs 20.48 crore, due to higher sales and lower ad spends. The consumer electrical and electronics firm had reported a profit of Rs 8.94 crore during the same quarter a year ago.
The total operational income of the company grew 11.3% yoy at Rs 422 crore, while total expenditure increased by 7.7% yoy at Rs 390 crore, V-Guard Industries said in a statement.
On the operating front, the profit margins during the quarter under review improved by three percentage points to 8.39% from 5.26% in the previous year's corresponding quarter.
Meanwhile, the board has recommended a dividend of 45% or Rs 4.50 per share for the financial year 2013-14.
An analyst at Motilal Oswal Securities believes that growth has bottomed out after two quarters of lower single digit performance and is expected to accelerate, given the strong outlook of summer going forward and lower base effect.
The stock opened at Rs 510 and touched a high of Rs 550 on the NSE and BSE. A combined 327,000 shares have changed hands on the counter so far on the NSE and BSE.
The total operational income of the company grew 11.3% yoy at Rs 422 crore, while total expenditure increased by 7.7% yoy at Rs 390 crore, V-Guard Industries said in a statement.
On the operating front, the profit margins during the quarter under review improved by three percentage points to 8.39% from 5.26% in the previous year's corresponding quarter.
Meanwhile, the board has recommended a dividend of 45% or Rs 4.50 per share for the financial year 2013-14.
An analyst at Motilal Oswal Securities believes that growth has bottomed out after two quarters of lower single digit performance and is expected to accelerate, given the strong outlook of summer going forward and lower base effect.
The stock opened at Rs 510 and touched a high of Rs 550 on the NSE and BSE. A combined 327,000 shares have changed hands on the counter so far on the NSE and BSE.
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