V-Guard Industries Limited, India’s leading consumer electrical and electronics company, announced the unaudited financial results for the quarter ended December 31, 2019.
Q3 FY 20 highlights:
· Consolidated Net Revenue from operations for the quarter ended December 31, 2019 was Rs. 631.89 crores; an increase of 5% over previous year (Rs.601.31 crores).
· Consolidated Profit Before Tax for the quarter ended December 31, 2019 was Rs.58.46 crores; Increase of 32.6% over the previous year (Rs.44.10 crores).
· Consolidated Profit After Tax for the quarter ended December 31, 2019 was Rs.44.24 crores; Increase of 29.7% over the previous year (Rs.34.10 crores).
· Subdued demand conditions impacted top-line growth the quarter. The Consumer Durables segment grew well, but other segments were impacted more by the overall slowdown.
· Non-South markets contributed 38% of turnover for the quarter, up from 37% in the corresponding quarter of the previous year.
· Gross margins improved across all segments. Low volatility in commodity prices, combined with cost effectiveness measures pricing actions early in the year helped improve margins.