V-Guard Industries posts Q4 net profit at Rs 42 cr

Consumer electrical and electronics player V-Guard Industries' net profit remained almost flat at Rs 41.85 crore for the fourth quarter ended March 31.
The company had reported a net profit of Rs 41.97 crore during the same period previous fiscal, V-Guard Industries said in a statement.
Net revenue from operations, however, was up 21 per cent at Rs 623.26 crore during the quarter under review compared to Rs 513.30 crore in the corresponding period of previous quarter.
"Last year has been great for us despite minor setbacks of demonetisation. We were able to sustain through it and inflow has normalised," V-Guard Industries Managing Director, Mithun K Chittilappilly said.

For the entire fiscal, the company's net profit was Rs 151.80 crore, as against Rs 111.68 crore in the 2015-16 fiscal, an increase of 36 per cent.
On the outlook, Chittilappilly said: "We expect to perform reasonably well in the next financial year."
The company's board has recommended a dividend of 70 per cent on equity for FY 17.