V-Guard Industries sees net up 53.6% in April-June quarter

: Consumer electrical and electronic appliances maker V-Guard Industries Ltd has posted a 53.6 per cent jump in its net profits of the April-June quarter at Rs 53.03 crore this financial year.

The company recorded a net profit of Rs 34.51 crore during the corresponding period last financial year.

For the year ending March 31, 2019, the net profit was Rs 168.04 crore.

The total income for the April-June quarter grew to Rs 713.11 crore from Rs 645.64 crore registered same period last fiscal.

For the year ending March 31, 2019, the total income was Rs 2,614.06 crore.

"During the quarter under review both electronics and consumer durables segments performed well. Electrical segment was impacted by trade de-stocking of wires category caused by downward trend in copper prices," V-Guard Industries Ltd managing director Mithun K Chittilappilly said.

The company was making satisfying progress with new categories and newer markets, he said.

"We continue to invest towards enhancing organisational capabilities and improving our competitiveness in the market and expect to sustain the growth momentum in coming quarters", he said.