Electric consumption and electronics company V-Guard, announced its results for the first quarter ended June 30.
Highlights
· NET income for the first quarter, ending June 30, 2013-14 fiscal were Rs. 408 crores; an increase of 28% over the corresponding period of the last financial year (319.00 crore from Rs)
· Profit after tax for the quarter ending June 30, 2013-14 fiscal was Rs. crore 17.64; Showing a decrease of 17% over the corresponding period of the last financial year (Rs. crore 20.65)
To increase the visibility of the brand, the company increased its ad spending considerably during the quarter under review. Pass the announcement increased by almost 85% which leads to a reduction of margins.
Wires, hydraulic pumps and drives performed exceptionally well and contributed 55% to the total revenue.
Business prospects
Commenting on the performance of the company, Mr. Mithun. K. Costa, Managing Director, V-Guard Industries Ltd said that "the company registered good growth during the first quarter of FY13-14, in terms of revenue. The business outlook remains positive; We continue to see greater demand for our product categories, taking into account the festive season of Onam in Kerala. "
Main developments
The company obtained the recognition in the Department of science and Industrial Research (DSIR) for its research and Development Center (R&D) in Kochi, Kerala.
Grinder Mixer new product, will be released in July 2013.
On the V-Guard Industries Ltd.
V-Guard Industries Limited is a company based on Kochi, incepted in 1977 by Mr. Chittilapilly Kochouseph to manufacture and market voltage stabilizers. What began in 1977 with two employees and a burning passion is now a force to reckon with in the Indian panorama electrical and electronic products. The company has since established a strong brand and aggressively diversified to become a multi-product company, catering to the Electricals Manufacturing light industry voltage stabilizers, inverters Digital UPS systems &, pumps, wiring/LT cables, electric water heaters, fans, Solar water heaters and has also recently forayed for induction cooktops and cubicles.