V-Guard Industries 2qtr standalone profits dip to Rs 38.18 Cr

: Consumer electrical and electronics player V-Guard Industries Ltd has reported a decline in its standalone profits for the quarter ending September 30, 2018 to Rs 38.18 crore.

The company had clocked profits at Rs 46.49 crore during the year-ago period. V-Guard said in a BSE filing.

For the six-month period ending September 30, 2018, the profits went up to Rs 72.58 crore from Rs 69.74 crore registered during year-ago period.

Total income for the July-September quarter went up to Rs 601.49 crore from Rs 565.94 crore registered during the year-ago period.

For the half year period ending September 30, 2018, the total income of the company rose to Rs 1,239.61 crore from Rs 1,138.17 crore registered during year ago period.

In a statement, the company said the growth was driven by sales of digital UPS, switchgear and kitchen appliances.

"Our performance this quarter (ending September 30, 2018) was impacted by the floods in Kerala and unfavourable weather conditions elsewhere in the country," company Managing Director Mithun K Chittilappilly said.

The company would continue to make good progress in non-South market and has plans to extend new products in other markets during the second half of the current financial year, he said.

"We are hopeful of recovering a part of the topline growth in the coming months. Some pricing actions are being planned which will help recover the impact of input cost increases," he said.