V-Guard Q4 rises 2-fold at Rs 42 cr

Consumer electrical and electronics marker V-Guard Industries today reported over two-fold rise in net profit to Rs 41.97 crore for the March quarter.
The company had posted net profit of Rs 20.07 crore in the fourth quarter of the 2014-15 fiscal.
V-Guard's net sales rose 16.04 per cent to Rs 510.07 crore during the quarter under review as against Rs 439.53 crore in the same quarter of 2014-15, the company said in a BSE filing.
"The business outlook remains positive during the quarter of 2016-17, considering favorable situations. It is planned to launch a mixer grinders in Tamil Nadu and introduce a new product line, gas stoves, in the kitchen appliance category in Kerala during the first quarter," V-Guard Managing Director Mithun K Chittilappilly said.

For entire 2015-16 fiscal, its net profit stood at Rs 111.68 crore as against Rs 70.72 crore in the previous fiscal.
The company's net sales grew to Rs 1,849.77 crore during the fiscal compared with Rs 1,730.47 crore in 2014-15.
In a separate filing, the company said its board of director have declared a final dividend of Rs 2.5 per share for 2015-16.
V-Guard shares closed 3.40 per cent up at Rs 989.10 apiece on BSE.