Consumer electricals firm V-Guard Q2 net up by 15% to Rs 59 crore

Consolidated net revenue from operations was Rs 907.40 crore, up 46% from a year ago. Firm says a spike in input costs partly impacted gross margins

Kerala-based consumer electricals and electronics company V-Guard Industries has posted 15 per cent increase in net profit for the second quarter of the financial year 2021-22 to Rs 59.4 crore, from Rs 51.62 crore during the same period in 2020-21.

The company’s consolidated net revenue from operations for the quarter ended September 30, 2021 was Rs 907.40 crore, up 46 per cent from a year ago (Rs 623 crore). The firm said a spike in input costs partly impacted gross margins.

Mithun K Chittilappilly, Managing Director, V-Guard Industries, said, “This quarter saw a recovery from the impact of the second wave of Covid-19 in the first quarter of this year, during which the South and East regions were more affected. The sharp increase in input costs has had some impact on gross margins. While we have taken pricing actions to offset a major part of the cost inflation, some more actions will follow in the ensuing months.”