V-Guard Industries PAT grows 44.5 % to Rs 76 crore in March quarter

Consumer electricals and home appliances maker V-Guard Industries Ltd on Thursday reported a 44.5 % increase in consolidated profit after tax at Rs 76.17 crore in the fourth quarter ended March 2024.

The company had posted a consolidated profit after tax (PAT) of Rs 52.72 crore in the corresponding period of the previous year, V-Guard Industries said in a regulatory filing.

Consolidated revenue from operations for the fourth quarter was Rs 1,342.77 crore as against Rs 1,139.22 crore a year ago, it added.

The company's board has recommended a final dividend of Rs 1.40 per equity share of Re 1 each for the financial year 2023-24.

For the fiscal ended on March 31, 2024, consolidated profit after tax was Rs 257.58 crore as compared to Rs 189.05 crore in the previous year, the company said.In FY24, consolidated revenue from operations was Rs 4,856.67 crore as against Rs 4,127.19 crore in FY23.

"The fourth quarter witnessed a good start to the summer season with revival in demand.

Electronics and consumer durables segments delivered strong growths...Margins continue to improve," V-Guard Industries Managing Director Mithun K Chittilappilly said.

The battery and kitchen appliances factories, which recently commenced commercial production, are expected to deliver benefits during the coming year, Chittilappilly added.