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Electrical Equipment company V-Guard Industries announced Q1FY25 results:
- Consolidated Net Revenue from operations for the quarter ended June 30, 2024 is Rs 1,477.10 crore; a growth of 21.6 % over the revenue recorded in corresponding period of the previous year (Rs 1,214.76 crore).
- Consolidated Profit After Tax for the quarter is Rs 98.97 crore, a growth of 54.1 % as against Rs 64.22 crore recorded in corresponding period of the previous year.
Commenting on the company's performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries said "The business has delivered strong topline growths in electronics and consumer durables segments led by strong demand for summer products. Wires which is the largest category under the electricals segment was impacted by trade de-stocking due to the softening of copper prices in June. Overall, we witnessed a good performance by all our regions, with the contribution from non-South markets to total revenue exceeding 50% during the quarter.
Gross margins continue to improve with benefit of softening commodity prices and various pricing and cost effectiveness initiatives flowing through. We continue to deliver robust cash flows through effective management of working capital.
The year has started well and we are optimistic about delivering a good performance in coming quarters"
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