V-Guard Industries Ltd., leading consumer electricals and electronics Company announced its unaudited financial results for the quarter ended December 31, 2021.
Q3 FY 2021-22 highlights:
- Consolidated Net Revenue from operations for the quarter ended December 31, 2021 was Rs. 967.38 crs; a growth of 16% compared to the corresponding period of previous year (Rs. 835.04 crs)
- Consolidated Profit After Tax for the quarter ended December 31, 2021 was Rs. 53.92 crs; PAT de-grew by 31% over corresponding period of previous year (Rs.78.25 crs).
- Consumer durables and Kitchen appliances grew well.
- Hyper inflation in input costs has had some impact on gross margins.
FY 2021-22 YTD highlights:
- Consolidated Net Revenue from operations for the 9 months ended December 31, 2021 was Rs. 2439.97 crs; a growth of 31% compared to the corresponding period of previous year (Rs. 1866.04 crs)
- Consolidated Profit After Tax for the 9 months ended December 31, 2021 was Rs. 138.86 crs; a growth of 4% over corresponding period of previous year (Rs.133.50 crs).
Business Outlook:
Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “This quarter started with a good momentum; however, the growth muted towards the end of the quarter with start of third wave. The sharp increases in commodity prices have 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.”