Piccadily Sugar & Allied Inds reports consolidated net loss of Rs 0.23 crore in the June 2021 quarter
V-Guard Industries advanced 3.20% to Rs 257.75 after the company reported 18.1% rise in standalone net profit to Rs 59.06 crore on a 46.4% increase in net revenue to Rs 902.96 crore in Q2 FY22 over Q2 FY21.
On the segmental front, revenue from Electronics was Rs 209.2 crore (up 22.3% YoY), revenue from Electricals was Rs 414.4 crore (up 46.8% YoY) and revenue from Consumer Durables was Rs 279.4 crore (up 71% YoY) during the period under review.
Cost of goods sold jumped 47.8% to Rs 623.65 crore in Q2 FY22 from Rs 421.96 crore in Q2 FY21.
Gross margin was 30.9% in Q2 FY22 as against 31.6% in Q2 FY21.
EBITDA improved by 19.5% YoY to Rs 96.28 crore in the second quarter. EBITDA margin was 10.7% in Q2 FY22 as against 13.1% in Q2 FY21.
Profit before tax in Q2 FY22 stood at Rs 82.44 crore, up by 15.9% from Rs 71.15 crore in Q2 FY21.
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. "
On the BSE, over 0.81 lakh shares of the company were traded in the counter so far as against an average trading volume of 0.33 lakh shares in the past two weeks.
V-Guard Industries makes consumer electrical and electronics products. The company's product range includes voltage stabilizers, inverter, electric & solar water heaters, fans, kitchen appliances, pumps, wires & cables, domestic switch gears, air coolers, etc.
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