V-Guard Q3 net up 14% at Rs 17.53 crore

Consumer electrical and electronics company V-Guard today reported profit after tax of Rs 17.53 crore in the third quarter ended December 31, a 14 per cent growth over same period of last financial year.
The company's PAT stood at Rs 15.35 crore in the same quarter of 2012-13, the Kochi-based company said in a release.
Net revenue from operations grew marginally to Rs 352.93 crore from Rs 349.04 crore in the corresponding quarter of last financial year.
"The overall slowdown in Indian economy has affected the consumer goods industry to a considerable extent. However, focused efforts on various cost management measures has helped the company in retaining the margin," V-Guard Industries Managing Director Mithun K Chittilappilly said.

Sales of digital UPS and pumps were very subdued and recorded decline in the quarter under review, which lead to overall flat growth in topline. However, robust sales was recorded in electric and solar water heaters during the quarter under review, the release said.
Chittilappilly said the company will launch a new series of inverters and stabilisers for the summer season.
A new model of electric water heater, Pebble, was recently launched in the premium category. The model has been well accepted in the southern region and the product will be taken to other states in the next financial year.